Fiscal deficit target to be met, minor slippage in CAD likely: Finance ministry official
Updated : August 22, 2018 08:23 AM IST
The government will meet the fiscal deficit target for the current fiscal although there could be some slippages in the current account deficit (CAD) because of high crude oil prices, a top finance ministry official said on Tuesday.
The comfortable forex reserve built up over the last three years will help the government deal with the volatility in oil prices in the international market, the official said.
As per estimates, India's CAD may widen to 2.5 percent of the GDP due to higher oil prices, a situation which has been accentuated by rupee depreciation.