CAD to fall 2%-2.5% of GDP in mid-term: RBI

"There is a sense of conviction about our plan to bring inflation down to 8% this year and 6% next year," Raghuram Rajan says

Reserve Bank of India (RBI) Governor Raghuram Rajan said that he would join hands with the new government in order to bring down high inflation. Speaking at a seminar in Tokyo, Rajan said the new government's plan to curb food inflation seems sensible and that he expected the public's inflation expectations to fall in the future. "There is a sense of conviction about our plan to bring inflation down to 8% this year and 6% next year," Rajan said. Speaking about the current account deficit, Rajan said, it could fall to 2%-2.5% of GDP in mid-term.