CAD expected to remain within 3% of GDP in FY23: RBI bulletin

India’s current account deficit (CAD) is likely to remain within three per cent of GDP in 2022-23 as compared to 1.2 per cent during the last fiscal, according to an article published in the Reserve Bank of India (RBI)’s monthly bulletin. With portfolio flows returning and foreign direct investment remaining strong, this order of deficit is eminently financeable. The article also mentioned that the export target of USD 750 billion for goods and services for 2022-23 seems attainable.