Mumbai: India’s present account surplus moderated to USD 15.5 billion or 2.4 per cent of the GDP within the July-September quarter of the present fiscal.
The identical was at USD 19.2 billion or 3.8 per cent of the GDP within the previous three months on account of an increase within the merchandise commerce deficit, the RBI mentioned on Wednesday.
A present account deficit of USD 7.6 billion or 1.1 per cent of the GDP was recorded within the second quarter of 2019-20.
India recorded a present account surplus of three.1 per cent of the GDP within the first half of the fiscal as in opposition to a deficit of 1.6 per cent within the corresponding interval of 2019-20.
This was primarily on account of a pointy contraction within the commerce deficit. The narrowing of the present account surplus within the second quarter of 2020-21 was because of an increase within the merchandise commerce deficit to USD 14.8 billion from USD 10.8 billion within the previous quarter, the central financial institution mentioned.
