https://www.taxtmi.com/news?id=11790 The statement projects containment of the Current Account Deficit at US $70 billion, attributing Q1 elevation largely to exceptional gold imports and forecasting sharp compression in gold inflows after administrative measures. It relies on diversified capital flows-FDI, quasi sovereign bonds, ECBs by PSUs, NRI deposits and banking capital aided by an FCNR(B) swap window-to fully finance the CAD without reserve drawdown. Concurrently, the Government commits to fiscal consolidation to keep the fiscal deficit within 4.8% of GDP, noting revenue recovery, front loaded plan expenditure, and announced austerity measures. en-us Tue, 01 Oct 2013 14:06:19 +0530 Tue, 01 Oct 2013 14:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11790 The statement projects containment of the Current Account Deficit at US $70 billion, attributing Q1 elevation largely to exceptional gold imports and forecasting sharp compression in gold inflows after administrative measures. It relies on diversified capital flows-FDI, quasi sovereign bonds, ECBs by PSUs, NRI deposits and banking capital aided by an FCNR(B) swap window-to fully finance the CAD without reserve drawdown. Concurrently, the Government commits to fiscal consolidation to keep the fiscal deficit within 4.8% of GDP, noting revenue recovery, front loaded plan expenditure, and announced austerity measures. News - Tue, 01 Oct 2013 14:06:19 +0530 https://www.taxtmi.com/news?id=11790