The current account deficit is expected to be around 2.5% of the GDP in 2018-19
India's balance of payment situation eased mainly on account of falling global oil prices
New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das has said the gross fiscal deficit has adhered to budgetary targets, and that the current account deficit is expected to be around 2.5% of the GDP in 2018-19.
Das said this earlier this week while speaking at the "Governor Talks" event organised on the sidelines of the World Bank-International Monetary Fund (IMF) Spring Meetings in Washington DC.
"The rate cut is in consonance of achieving the medium term objective of maintaining inflation at the 4% level while supporting growth," the statement, announcing the RBI's first bi-monthly monetary policy review of the fiscal, said.
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