India’s current account deficit is projected to widen significantly. Higher crude oil prices are expected to drive this increase. This will put pressure on the economy. Experts anticipate Brent crude to average between USD 90-95 per barrel this fiscal. This is a substantial rise from previous levels. The deficit is forecast to reach 2.2 percent of GDP.
Brent crude expected at USD 90-95/barrel, raising India’s CAD risk: Crisil
