Indias current account slips into deficit in Q2
Mumbai Dec 31 PTI Indias current account slipped into a deficit of USD 96 billion or 13 per cent of GDP in the September quarter the Reserve Bank said on Friday The current account which records the value of exports and imports of both goods and services along with international transfers of capital was in a surplus mode both in the quarter-ago and year-ago periods Indias current account surplus had stood at USD 66 billion or 09 per cent of GDP in the April-June 2021 quarter while in the year-ago period Q2FY22 the surplus had stood at USD 153 billion or 24 per cent of the GDP the data said For the reporting quarter the deficit was mainly due to widening of trade deficit to USD 444 billion from USD 307 billion in the preceding quarter and an increase in net outgo of investment income the RBI said Net services receipts decreased marginally over the preceding quarter but increased on a year-on-year basis on the back of robust performance of the exports of computer and business services it added PTI AA MKJ
Mumbai Dec 31 PTI Indias current account slipped into a deficit of USD 96 billion or 13 per cent of GDP in the September quarter the Reserve Bank said on Friday The current account which records the value of exports and imports of both goods and services along with international transfers of capital was in a surplus mode both in the quarter-ago and year-ago periods Indias current account surplus had stood at USD 66 billion or 09 per cent of GDP in the April-June 2021 quarter while in the year-ago period Q2FY22 the surplus had stood at USD 153 billion or 24 per cent of the GDP the data said For the reporting quarter the deficit was mainly due to widening of trade deficit to USD 444 billion from USD 307 billion in the preceding quarter and an increase in net outgo of investment income the RBI said Net services receipts decreased marginally over the preceding quarter but increased on a year-on-year basis on the back of robust performance of the exports of computer and business services it added PTI AA MKJ
