India's Current Account Deficit Soars Record High to 6.7% in Q3

Country’s Current Account Deficit (CAD) has soared into record heights of 6.7% of total GDP in 3^rd quarter of the financial year. The reason for this high deficit is the heavy oil and gold imports and some muted exports in that time being.

Eventually this current scenario will force the Government of India to take more necessary steps to contain the deficit, and provide the Indian economy some soothing airs. Already Finance Ministry has taken some key measurements to control the situation, and boost up the economic growth.