Login With Google
Current account sees a small surplus
News:
- India recorded a current account surplus of $0.6 billion, or 0.1% of GDP, for the January-March quarter, against a deficit of $4.6 billion, or 0.7% of GDP in the year-ago period.
More about the scheme:
- The current account balance id considered as an important indicator of a country’s external sector.
- The current account balances represent the net of the country’s export and imports of goods and services and also payments made to foreign investors or inflows from them.
- The surplus in the current account in the March quarter was primarily on account of a lower trade deficit at $35 billion.
- There is also a sharp rise in net invisible receipts at $35.6 billion as compared with the corresponding period of last year.