India reports current account surplus of 0.9% in pandemic-affected FY21: RBI data
The Hindu
The country's current account deficit widened to $8.1 billion or 1% of GDP for the March quarter
India reported a current account surplus of 0.9% of GDP in the pandemic-hit FY21, as against a deficit of 0.9% in FY20, data released by the RBI showed on Wednesday. The country's current account deficit widened to $8.1 billion or 1% of GDP for the March quarter, as against a surplus of USD 0.6 billion or 0.1% of the GDP in the year-ago period and a deficit of 0.3% in the preceding December quarter, as per the central bank data. The CAD, the gap between the country's overall foreign receipts and payments, is an important factor representing a nation's external sector's strength.
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