CAD in Q3 set to be higher than Q2: Finmin officials

Last quarter, CAD was at 5,4% of GDP, a report number till then

India's current account deficit (CAD) is set to be higher as percentage of GDP in the third quarter of the current financial year, against 5.4% recorded in the second quarter, a record till then, officials in the finance ministry said.

The CAD figures for Q3 would be released later today.

India's CAD has been breaking records of late. In the year  2011-12, it touched 4.2% of GDP which was at its peak then. Then, in the second quarter of the current financial year, it reached 5.4% of GDP against 4.2% in the corresponding period of last fiscal.

In the first half of the current financial year, CAD stood at 4.6 per  cent of GDP against 4% in the corresponding period of 2011-12.

Finance minister P Chidambaram had for the first time flagged the issue in the Budget for 2013-14. He had termed CAD a greater worry than the Centre's fiscal deficit. End