Finance Minister Chidambaram expects a much lower Current Account Deficit – CAD this year. The government's target for the financial year is 70 billion or 3.7 per cent of GDP.Buoyed by better-than-expected first Quarter performance, Chidambaram said in Srinagar that it could be comfortably below 70 billion. At the moment, he said he will stick to 70 billion. Chidambaram said once the second-quarter numbers of the performance of the economy are announced, he will be able to give a better number.Talking to reporters on the sidelines of a function to celebrate the platinum jubilee of J&K Bank, Chidambaram said economic growth closer to 5.5 per cent should be considered very satisfactory. He said there is still some speculation in the forex markets.