Current account deficit to be around $60 billion: Chidambaram

Chidambaram also asked the industry to invest back in the economy and that the government will expedite the clearance process.

“Indian industry must now not any longer sit on idle cash but start investing,” Chidambaram said.

“In six months, 99 projects have been cleared worth Rs.3.68 lakh crore by the Cabinet Committee on Investments (CCI).”

Chidambaram added that he looked forward to attracting more foreign investments in pharmaceutical, telecom, and single- and multi-brand retail sectors.