Current account surplus moderates to $15.5 billion in Q2: RBI

By: |
Updated: Dec 30, 2020 6:54 PM

The same was at USD 19.2 billion or 3.8 per cent 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 USD 7.6 billion or 1.1 per cent of the GDP was recorded in the second quarter of 2019-20.A current account deficit of USD 7.6 billion or 1.1 per cent of the GDP was recorded in the second quarter of 2019-20.

India’s current account surplus moderated to USD 15.5 billion or 2.4 per cent of the GDP in the July-September quarter of the current fiscal.

The same was at USD 19.2 billion or 3.8 per cent 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 USD 7.6 billion or 1.1 per cent of the GDP was recorded in the second quarter of 2019-20.

India recorded a current account surplus of 3.1 per cent of the GDP in the first half of the fiscal as against a deficit of 1.6 per cent in the corresponding period of 2019-20. This was mainly on account of a sharp contraction in the trade deficit.

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 USD 14.8 billion from USD 10.8 billion in the preceding quarter, the central bank said.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1DBT scheme for fertiliser subsidy may be rolled out in FY22
2Govt extends transmission charge waiver for solar projects facing delays
3We should not go back to pre-pandemic world, says Nobel laureate Muhammad Yunus