The Reserve Bank of India (RBI) raised concerns on the widening Current Account Deficit (CAD) of India as the central bank feels that the current level of CAD is far above the the level sustainable for India. “As per estimates, at a nominal growth rate of about 13%, the sustainable current account to GDP ratio is 2.3%. Reserve Bank’s own research shows that economy can sustain CAD of about 2.5% of GDP under a scenario of slower growth,” said Deepak Mohanty, Executive Director, RBI in his speech at an event in Bhubaneswar..........
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