Higher trade deficit widens India’s 2017-18 CAD

Mumbai: India’s current account deficit (CAD) FOR 2017-18 has widened on the back of a higher trade deficit, Reserve Bank of India’s (RBI) data showed on Wednesday.

According to the RBI data, the CAD for last fiscal widened to 1.9 per cent of the GDP (Gross Domestic Product) from 0.6 per cent in 2016-17.

Accordingly, the country’s trade deficit increased to $160 billion in 2017-18 from $112.4 billion in 2016-17.