Indian News Service 2013-08-24 18:18:00
Standard & Poor maintains BBB- .
The Current Account Deficit (CAD) had touched a record high$88.2 billion
which is 4.8% of GDP in 2012-13 fiscal.
Finance Minister Mr.P.Chidambaram assured the country that the CAD will
be contained at $70 billion or 3.7% in the current fiscal year.
The government of India and RBI are seriously addressing the problem and we
hope that the CAD is contained.The big cause for worry is the Food Bill which
may fuel the inflation as the funds required for procurement of rice and wheat
during this fiscal year are not adequately provided for in the Finance Bill.