India’s current account deficit (CAD) is expected to narrow to less than 1 per cent of gross domestic product (GDP) in FY24 due to contained goods trade deficit, improved net services receipts, increased remittances and macroeconomic stability, a report by UBS Securities said.

       “Heading into FY25, we estimate that CAD will modestly increase to 1.3 per cent of GDP. We estimate that India can sustain global crude oil prices up to $90/bbl, all else remaining unchanged. But, lower the oil price goes, the better it would be for India,” said Tanvee Gupta Jain, UBS India Economist.

       CAD implies the country is

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