India finmin sees FY2012 c/a deficit around 5 pct of GDP

Last Updated: Wed, Apr 17, 2013 14:30 hrs

NEW YORK, April 17 (Reuters) - India's Finance Minister P. Chidambaram said on Wednesday that he expected his country's current account deficit for the 2012 fiscal year that ended in March to be around 5 percent of gross domestic product.

"The third quarter (current account deficit) was large. The fourth quarter is likely to be better and for the overall year, probably around 5 percent, maybe a shade under 5 percent," he told reporters before meeting with investors and businesses.

Chidambaram is on a trip to the United States and Canada this week to drum up foreign investment in India. (Reporting by Daniel Bases; Editing by James Dalgleish)

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