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India’s current account deficit (CAD) is likely to swing to surplus in the January-March period of this year amid lower oil and gold imports, says a Nomura report.
The current account balance is expected to record a surplus of around $3 billion (0.6 per cent of GDP) in January-March period of 2016 from a deficit of $7.1 billion (1.3 per cent of GDP) in the October-December quarter of 2015.
“This is largely seasonal in nature, but is also helped by lower oil and gold imports,” Nomura said in a research report, adding if this materialises, it would be the first quarterly surplus in nine years.
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