India's CAD likely widened to 3.6% of GDP in Q1FY23: Reuters poll

India’s current account deficit (CAD) likely widened to its highest in nearly a decade in the June 2022 quarter to USD 30.5 billion or 3.6 per cent of GDP, as per a Reuters’ poll of economists held between 9-15 September 2022. Economists opine that soaring global commodity prices and Rupee at 80 contributed to the worsening trade gap and bloating the CAD. Forecasts for CAD ranged between USD 28.5-34.0 billion or 2.4 per cent to 5 per cent of GDP.