New Delhi, May 11 -- Mumbai: India's current account deficit (CAD) is expected to widen sharply in the current financial year as prolonged disruptions in the Strait of Hormuz drive up crude prices, with economists warning that austerity measures, as appealed by Prime Minister Narendra Modi, may offer only limited relief.

PM Modi on Sunday urged Indians to adopt covid-era austerity measures such as working from home, reducing fuel consumption, avoiding foreign vacations and deferring gold purchases for a year.

Three economists believe that the Prime Minister's call for "economic patriotism" could provide temporary relief to the external account by curbing discretionary imports, such as gold and overseas travel, but warned that the broade...