Current Account Deficit for 2012-13

India's current account deficit hit a record high 4.8% of GDP in the fiscal year 2012-13

The current account gap for the full fiscal year ending in March 2013 was $87.8 billion(4.8 % of GDP) compared with $78.2 billion in March 2012(4.2% of GDP)

The current account gap in the March quarter was $18.1 billion, or 3.6 % of GDP, lower than 4.4% gap forecast

In the quarter ending June 30, 2013 the current account deficit "could be around 5% because of the huge trade gap in April-May 2013

Reasons

• rising imports of oil and gold