“We have emphasised that the time available now should be used with alacrity to institute structural measures to bring the current account deficit (CAD) down to sustainable levels,” he said. CAD had been well above the sustainable level of 2.5 per cent of GDP (gross domestic product) for three years in a row, he pointed out.
“This is a daunting structural risk factor. It has brought the external payments situation under increased stress, reflecting rising external indebtedness and the attendant burden of servicing external liabilities,” he added.
http://www.thehindu.com/
