What is capital account convertibility from the context of Indian Economy?

Answer 1

India is .........................for Capital Ac. convertibility ....before introducing CAC we have to consider the following
1) whether our interest service to Loans as a %age of GDP can be brought down ?
2)whether RBI has a mechanism in place (infrastructure) to deal with CAC? How efficiently can it moniter?
3)Should we not wait for Fiscal deficit to come down?
4) Can we control our inflation?