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India posts current account deficit of 0.1 per cent of GDP in April-June

India posted a current account deficit of $300 million, or 0.1 percent of gross domestic product, in the April-June quarter, contrasting with expectations for a surplus of nearly $4 billion.

By: | Mumbai | Published: September 21, 2016 5:56 PM
rupees-reu-L The deficit was much narrower than a deficit of .1 billion, or 1.2 percent of GDP, in the same quarter a year ago, according to the data released by the Reserve Bank of India on Wednesday. (Source: Reuters)

India posted a current account deficit of $300 million, or 0.1 percent of gross domestic product, in the April-June quarter, contrasting with expectations for a surplus of nearly $4 billion.

The deficit was much narrower than a deficit of $6.1 billion, or 1.2 percent of GDP, in the same quarter a year ago, according to the data released by the Reserve Bank of India on Wednesday.

Meanwhile, the balance of payments posted a surplus of $7.0 billion for the April-June quarter, down from an $11.4 billion surplus a year ago, the RBI data showed.

It was India’s third consecutive balance of payment surplus.

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