India fares poorly compared to Asian peers

Over last several months, the inherent weaknesses of the Indian economy have come to the fore. The government been has putting the blame of India's deteriorating economic condition on the eurozone crisis. But several indicators hint that the India's current predicament is majorly the result of its own doing. Today's chart of the day compares the current account deficit of India with some Asian peers. It is evident from the chart that India has the highest current account deficit among major Asian economies. India's current account deficit has been adversely affected mainly due to high dependence on fuel imports, high subsidies and a falling rupee.