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CAD expected to be at 2% of GDP: Rangarajan

Rangarajan said the restrictions that had been imposed on import of gold would be relaxed

May 05, 2014 4:13 IST | India Infoline News Service
India's current account deficit (CAD) is expected to be at 2% of the Gross Domestic Product (GDP), as compared to 1.7% in 2013-14 on account of reduction in gold imports and inflation showing signs of decline, said C Rangarajan, chairman of Economic Advisory Council to the Prime Minister.

CAD is expected to remain at the modest levels. Going ahead the demand for gold import would fall and exports would increase. Hence, CAD will settle down at around 2% of GDP, Rangarajan added.

Rangarajan said the restrictions that had been imposed on import of gold would be relaxed.

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