Current account surplus slides to $6.5 billion in Q1
The Hindu
Trade deficit narrows sequentially
India’s current account balance saw a far lower surplus of $6.5 billion (0.9% of GDP) in the first quarter ended June 30, (Q1FY22) compared with a surplus of $19.1 billion (3.7% of GDP) a year earlier.
The balance of payments registered a $8.1 billion deficit (1% of GDP) in the quarter ended March, Reserve Bank of India data released on Thursday showed.
The surplus in the current account in Q1FY22 compared with the previous quarter was primarily on account of contraction in the trade deficit to $30.7 billion from $41.7 billion in the preceding quarter, and an increase in net services receipts, as per data provided by the(RBI).
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