CAD touches record high of 4.8% in 2012-13: RBI

Current Account Deficit (CAD) touched a record high of 4.8 per cent of GDP in 2012-13. The CAD was at USD 78.2 billion (4.2 per cent) in 2011-12 fiscal, but a higher oil and gold imports pushed it up to USD 87.8 billion (4.8 per cent) last fiscal, RBI release said. CAD, which is the difference between the outflow and inflow of foreign currency, however, moderated “sharply” to 3.6 per cent of GDP in the last quarter of 2012-13 fiscal after it touched a historic high of 6.7 per cent in the October-December quarter. It was 4.4 per cent in the March quarter of 2011-12.