CAD, rising prices to be tackled on urgent basis: Sitharaman

The rising Current Account Deficit (CAD) and galloping prices are the issues which will be tackled on an urgent basis by the government, Union Minister Nirmala Sitharaman said here today.

"Finance Minister Arun Jaitley will announce important measures to reduce the CAD and curb rising prices," Minister of Commerce (Independent charge), Sitharaman told reporters.

She was here to attend the swearing-in ceremony of the first chief minister of new Andhra Pradesh, N Chandrababu Naidu.

"India's contribution to global trade should be increased by adopting a comprehensive strategy and also by searching new markets for our exports. We have to study new markets commodity-wise and also area-wise," she said.

Sitharaman said that in the context of Andhra Pradesh, agro-based industries have to be encouraged to improve the living conditions of the farming community.

"Investments in such agro industries would be encouraged which ultimately improve the employment potential," she said, adding that the economic growth of Andhra Pradesh will be linked with the construction of new ports and the development of the IT sector.

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