During the financial year 2017, the current account deficit has been 0.7 percent of GDP, as against 1.1 per cent during the previous fiscal year 2016. During the January-March quarter, the current account deficit stood at 0.6 percent of GDP while on a year-on-year basis it was 0.1 percent of GDP.

However, if we talk of value in rupees, the current account deficit during the fiscal year 2017 was $ 15.2 billion, while it was $ 22.1 billion during FY16. During the January-March quarter, it stood at $ 3.4 billion, while it was $ 0.3 billion annually.

Increase the trade deficit of the country:

There has been an increase in the trade deficit of the country. The trade deficit in May rose by more than 120 percent to $ 1384 million. In May last, the trade deficit was $ 627 million. On a year-on-year basis, the country’s exports increased by 8.3 percent to $ 2401 million in May. However, on an annual basis, the country’s import increased by 33.1 percent to $ 3786 million in May.

At the same time, gold imports in May increased by 236.7 percent to $ 496 million. On an annual basis, the exports of James & Jewellery has increased by 6 percent to $ 394 million. On an annual basis, oil imports in May increased by 29.5 percent to $ 769 million. On a yearly basis, non-oil imports in May increased by 34 percent to $ 3016 million.