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Current account gap to widen to 1.6% of GDP in FY17’

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India’s current account deficit ( CAD) is likely to widen to 1.6 per cent of the gross domestic product ( GDP) this financial year, driven by pick- up in domestic demand on the back of a better monsoon and upcoming pay hikes, says a Nomura report. According to the global financial services major, the country’s domestic demand will pick up on the back of a better monsoon, 7th Pay Commission awards and the ongoing public capital expenditure plans.
Business Standard New Delhi,17th May 2016

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