Citi ups India's FY13 current account deficit estimate to 4.7%
Over the last few months, the government has taken several steps to boost dollar inflows like de-regulating NRI deposit rates, relaxing ECB norms, increasing FII debt limits, liberalisation of FDI and postponement of GAAR and higher duties on gold.
Meanwhile, high import of gold is adding to the CAD despite efforts by the government to check import of the precious metal. Gold accounts for second largest import in value terms after oil.
Gold imports in the April-December period stood at USD 38 billion. In 2011-12 fiscal it was USD 56.5 billion.
Be the first to comment.