Current Account Deficit Below 1% Of GDP In 2015-16: Jaitley

India's current account deficit will "hopefully" be less than 1 percent of gross domestic product (GDP) in the fiscal year that begins in April, Finance Minister Arun Jaitley told lawmakers on Tuesday.

 

The deficit narrowed to 1.6 per cent in the October-December quarter from 2 per cent a quarter earlier on the back of slumping oil prices. Analysts said it should move into surplus in early 2015 for the first time in eight years.

 

(Reuters)