India Records Current Account Surplus in March Quarter: RBI
Jun 24, 2024 17:50
India recorded a current account surplus of USD 5.7 billion in the March quarter, a significant improvement from the deficit in the previous quarter. The Reserve Bank of India (RBI) attributes this positive development to various factors.
Photograph: Anushree Fadnavis/Reuters
Mumbai, Jun 24 (PTI) India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank said on Monday.
In the year-ago period, the current account deficit stood at USD 1.3 billion or 0.2 per cent of GDP, and the same was USD 8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023.
For FY24, the current account deficit narrowed to USD 23.2 billion or 0.7 per cent of GDP against USD 67 billion or 2 per cent of GDP in FY23, the RBI said in a release on the Developments in India's Balance of Payments.
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