The government is confident of containing Current Account Deficit, CAD, at 70 billion Dollar this fiscal. Briefing reporters in New Delhi today, Secretary Department of Economic Affairs Arvind Mayaram said gold imports are likely to be about 800 tonnes. Stating that government collections have been higher in the 2nd half, he said revenue targets will be met and GDP growth will be better.High imports of gold and oil pushed CAD to 4.9 per cent of GDP, amounting to 21.8 billion US dollars in the first quarter of 2013-14.
Mayaram expressed hope that the shutdown in the US will not impact global economy. He said the government will continue to work to keep rupee stable and ruled out any immediate import curbs.