Government measures to control the current account deficit worse than the disease

The government is moving forward with its various measures that it had promised to try and curtail India's current account deficit, which had reached alarming proportions in recent quarters. Finance Minister P Chidambaram told Parliament on Monday that he remained confident that the current account deficit for 2013-14 would be only 3.7 per cent of gross domestic product, although 2012-13 saw it as high as 4.8 per cent of GDP.

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