Current Account Surplus Shrinks To $15.5 Billion In July-September Quarter Current Account Surplus Shrinks To $15.5 Billion In July-September Quarter The surplus stood at 2.4 per cent of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1 per cent of GDP, in the same period a year ago,
RBI expects the economy to contract 7.5 per cent in the current fiscal year to March 2021.
Mumbai:
India s current account surplus shrank to $15.5 billion in the July-September quarter from a record $19.2 billion in April-June as its merchandise trade deficit grew, the Reserve Bank of India said on Wednesday. The surplus stood at 2.4 per cent of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1 per cent of GDP, in the same period a year ago, RBI data showed. The recent current account surpluses three straight quarters has largely been caused by a decline in the country s trade deficit, caused by