Current Account Deficit tapers to 3.6% in March
India's March quarter current account deficit was USD 18.1 billion, or 3.6 percent of GDP, lower than expected and below the USD 21.7 billion deficit a year earlier, the Reserve Bank of India said on Thursday.
June 27, 2013 / 11:37 IST
India's March quarter current account deficit was USD 18.1 billion, or 3.6 percent of GDP, lower than expected and below the USD 21.7 billion deficit a year earlier, the Reserve Bank of India said on Thursday.
Also read: Rupee off record low in early trade, opens at 60.45/$ A Reuters poll had forecast the March quarter current account deficit at USD 21.59 billion, or 4.4 percent of GDP.The current account gap for the full fiscal year ending in March 2013 was USD 87.8 billion, which was 4.8 percent of GDP, compared with USD 78.2 billion a year earlier.The balance of payments for the January-March quarter was a USD 300 million surplus, compared with a $600 million deficit a year earlier.For the fiscal year 2012/13, the balance of payments deficit was USD 2.7 billion, compared with a surplus of USD 2.4 billion a year earlier. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
