In line with estimates, India’s current account deficit (CAD) for this financial year’s first quarter, April to June, narrowed sharply to 1.7 per cent of gross domestic product ($7.8 billion) from 4.8 per cent of GDP ($21.8 bn) in the corresponding period of 2013-14.The fall was aided by contraction in the trade deficit, on a rise in export and dip in import. The CAD for the fourth quarter (January-March) of 2013-14 was $1.2 bn (0.2 per cent of GDP), it was also announced.

Source - http://www.business-standard.com