You are here

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

25_39717008 - 02_09_2016 - INDIA-STRIKE_.jpg
India posted a current account deficit of US$300 million, or 0.1 per cent of gross domestic product, in the April-June quarter, contrasting with expectations for a surplus of nearly US$4 billion.

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

The deficit was much narrower than a deficit of US$6.1 billion, or 1.2 per cent 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 US$7.0 billion for the April-June quarter, down from an US$11.4 billion surplus a year ago, the RBI data showed.

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

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes