<p>Worried over worsening balance of payment situation, the Economic Survey asked the government to take steps to discourage import of gold and consumer goods.<br /><br /></p>.<p>A trade deficit of more than 8 per cent of GDP and current account deficit (CAD) of more than 3 per cent is a sign of growing imbalance in India’s Balance of Payments (BoP), the survey said. India’s gold imports went up by 64 per cent to US$38.3 billion during the April-October period of this fiscal.<br /><br /> BoP summarises transactions between a country and the rest of the world, and the account classifies transactions under two heads - capital account and current account.</p>
<p>Worried over worsening balance of payment situation, the Economic Survey asked the government to take steps to discourage import of gold and consumer goods.<br /><br /></p>.<p>A trade deficit of more than 8 per cent of GDP and current account deficit (CAD) of more than 3 per cent is a sign of growing imbalance in India’s Balance of Payments (BoP), the survey said. India’s gold imports went up by 64 per cent to US$38.3 billion during the April-October period of this fiscal.<br /><br /> BoP summarises transactions between a country and the rest of the world, and the account classifies transactions under two heads - capital account and current account.</p>