India's current account deficit is a concern: C Rangarajan

Chennai: Admitting that India's current account deficit in balance of payment is a concern, Chairman of the Prime Minister's Economic Advisory Council, C Rangarajan said that the government needed foreign direct investment (FDI) to meet the challenge. The government said it would do what was needed to tackle its current account deficit, after heavy oil and gold imports together with muted exports drove the gap to a record high in the December quarter.

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