CAD increase 3.6% Finance minister says current account gap may go up

India’s March quarter current account deficit was $18.1 billion, or 3.6 per cent of GDP, below the $21.7 billion deficit a year earlier, the Reserve Bank of India said.

Country’s current account deficit (CAD) may widen because of money outflows, Finance Minister P Chidambaramsaid on Thursday, after data showed a lower-than-expected current account gap for the quarter ended March 31.

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