PRESS INFORMATION BUREAU GOVERNMENT OF INDIA

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FM STATEMENT ON CURRENT ACCOUNT DEFICIT (CAD); CONFIDENT TO FINANCE THE CAD WITHOUT DRAWING UPON RESERVES; APPEAL TO THE PEOPLE TO MODERATE THE DEMAND FOR GOLD AS IT LEADS TO LARGE IMPORTS OF GOLD New Delhi, Pausa 12, 1934 January 2, 2013

The text of the Union Finance Minister Shri P.Chidambaram's
Statement about Current Account Deficit (CAD) is as follows:
I have spoken about the Current Account Deficit (CAD) on a number of occasions. The Current Account Deficit, for the first half of the current year (2012-13) stood at US$ 38.7 billion or 4.6% of GDP.
The main contributors to the CAD were