March 7, 2014 2:10 PM

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Confident CAD will be contained below $ 40bn : Chidambaram

Finance Minister P Chidambaram has expressed confidence that current account deficit will be contained below 40 billion Dollars and fiscal deficit target of 4.6 per cent will achieved. He said measures taken by government and RBI have helped revive economy which is more stable now than 18 months ago. Mr Chidambara was addressing a joint press conference with RBI Governor Raghuram Rajan after the meeting of board of directors of the bank in New Delhi today. He also reminded that time has come to find innovative ways for raising bank capital.RBI Governor Raghuram Rajan said new bank licences will be issued in next few weeks after seeking approval of Election Commission. He said the central bank will explore more ways to raise bank capital.

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