'India's current account deficit to touch $30bn in 2018'

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India's current account deficit is expected to increase by $10 billion to $30 billion in the 2017-18 fiscal due to higher oil and gold imports, credit rating agency ICRA said on Thursday 

 

However, the pressure related to the financing of a larger current account deficit would abate with the resumption of Non-Resident Indian (NRI) deposits in 2018. 

 

The ICRA expects a rise in the prices and import volumes of crude oil and gold to enlarge the Indian current account deficit to around $30 billion in 2018 from around $20 billion in 2017.