1991 redux ? Govt may use its gold reserves to reduce CAD, hints Sharma New Delhi: Government may use a portion of the country's gold reserves to reduce Indiaâ€™s widening current deficit, Union Commerce and Industry Minister Anand Sharma has hinted. The Commerce Minister said that only 500 tonnes of gold will be sufficient to trim down Indiaâ€™s current account deficit. India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of USD 88 billion or 4.8 percent of the GDP for the fiscal ended March 31, from USD 78.2 billion in 2011-2012, about 4.2 percent of the gross domestic product. India's wide current-account deficit has been pushing the rupee lower. The rupee today breached the 66-mark against the dollar for the first time in history and quoted at 66.07 Vs dollar.