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Budget 2021

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Budget 2021

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  • SMCSamsungVolvo
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India's current account surplus moderates to $15.5 billion in Q2: RBI

The same was at $19.2 billion or 3.8 percent of the GDP in the preceding three months on account of a rise in the merchandise trade deficit, the RBI said on Wednesday.

December 30, 2020 / 07:31 PM IST

India's current account surplus moderated to $15.5 billion or 2.4 percent of the GDP in the July-September quarter of the current fiscal.

The same was at $19.2 billion or 3.8 percent of the GDP in the preceding three months on account of a rise in the merchandise trade deficit, the RBI said on Wednesday.

A current account deficit of $7.6 billion or 1.1 percent of the GDP was recorded in the second quarter of 2019-20.

India recorded a current account surplus of 3.1 percent of the GDP in the first half of the fiscal as against a deficit of 1.6 percent in the corresponding period of 2019-20.

This was mainly on account of a sharp contraction in the trade deficit.

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The narrowing of the current account surplus in the second quarter of 2020-21 was due to a rise in the merchandise trade deficit to $14.8 billion from $10.8 billion in the preceding quarter, the central bank said
PTI
first published: Dec 30, 2020 07:31 pm

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