Government considers measures to address current account deficit
pre-market1 source ↓written by the desknot a recommendation
- gold imports surged
- 24%
- last fiscal year
- $72 billion
Commerce and Industry Minister Piyush Goyal announced that the government is evaluating steps to manage the widening current account deficit (CAD) amid a depreciating rupee. While the government will not cut non-essential imports, citizens are urged to be mindful of import-dependent products. Notably, gold imports surged 24% to $72 billion last fiscal year.
Not investment advice. For informational purposes only.