India, May 19 -- India's current account deficit is set to widen to 2.3 per cent of GDP in FY27 from 0.9 per cent in FY26, a foreign brokerage said on Monday.

The balance of payments (BoP) deficit is estimated to widen to $65 billion in the current fiscal from the last fiscal year's $35 billion, it said. HSBC said it has assumed crude prices to average $95 a barrel, and combined it with sensitivities in oil, gold, core goods, services trade and remittances to arrive at a current account deficit of 2.3 per cent of GDP in FY27 as against 0.9 per cent in FY26.

The BoP forecast has been made after growing through trends in portfolio inflows, FDI flows, and external commercial borrowing (ECBs), it said.

The report also looked at forex reser...