<h1>India Targets Reduced Current Account Deficit from 4.8% to 3.7% GDP with Import Cuts and Capital Inflow Boosts.</h1> The Union Finance Minister addressed Parliament regarding India's economic challenges, highlighting achievements in fiscal deficit reduction from 5.3% to 4.9% of GDP for 2012-13. The focus shifted to the Current Account Deficit (CAD), which stood at 4.8% of GDP. The government aims to reduce the CAD to 3.7% of GDP by implementing measures such as reducing imports of gold, silver, and oil, and enhancing capital inflows through liberalized guidelines and financial instruments. These efforts are expected to ensure CAD financing and a small increase in reserves, with notifications and administrative measures to follow.