Business Current account deficit is shrinking but that’s not good news Updated : December 03, 2019 02:01 PM IST In the first 7 months of this year imports have declined by 7 percent YoY but in the last three months imports have declined by almost 15 percent YoY. In FY19 India’s CAD was $57 billion or 2.1 percent of GDP; the current trajectory suggests CAD will shrink to half of that or just over 1 percent of GDP this year. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.