Ahluwalia says C/A deficit has to be capped

India's current account deficit has to be capped at 3% of the country's gross domestic product (GDP) to sustain high economic growth, the deputy chairman of the Planning Commission, Montek Singh Ahluwalia, said today.

India's current account deficit has to be capped at 3% of the country's gross domestic product (GDP) to sustain high economic growth, the deputy chairman of the Planning Commission, Montek Singh Ahluwalia, said on Friday.

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The current account gap for the current fiscal year that ends on March 31 is projected to widen to 3.6% of GDP from 2.7% a year ago, according to estimates released by the Prime Minister's Economic Advisory Council.