India to Take Some More Steps to Narrow CAD: Finance Minister


India's finance minister Arun Jaitley. (REUTERS/Saumya Khandelwal/File Photo).
India's finance minister Arun Jaitley. (REUTERS/Saumya Khandelwal/File Photo).

Indian finance minister Arun Jaitley has said on Saturday (6) that his government will take some more measures to narrow country’s current account deficit (CAD) and boost foreign cash inflow.

The government has already moved ahead with some measures and some more steps are very likely to be taken to narrow CAD, the minister said at the HT Leadership Summit in New Delhi.

Describing the some of the steps taken by his government, Jaitley added that the government cut the borrowing target for the current financial year by £7.25 billion and permitted oil companies to increase £7.62bn in 12 months.

“The high cost of crude oil has also impacted the currency situation & Current Account Deficit,” the minister said in his twitter handle.