New Delhi, July 16 -- CareEdge Ratings has sharply lowered its current account deficit (CAD) projection for FY27 to 0.8-1.2pc of GDP, from its earlier estimate of 2.1pc, citing lower crude oil prices, resilient services exports, robust remittances, and an improvement in merchandise exports.
The ratings agency expects the moderation in oil prices to significantly reduce India's import bill, while continued strength in services exports and inward remittances will help keep the external balance in check. Its revised forecast assumes average crude oil prices of USD 80-85 per barrel during FY27.
On the capital account, CareEdge Ratings expects net foreign direct investment (FDI) to more than double to USD 15 billion in FY27 from USD 6.9 billio...