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India posts current account surplus on low trade deficit, high remittances

IANS/Mumbai
Filed on June 30, 2020 | Last updated on June 30, 2020 at 05.46 pm
current account surplus, remittance, trade deficit

(alamy.com/ae)

India's current account balance recorded a marginal surplus of $0.6 billion (0.1 per cent of GDP) in Q4 of 2019-20 as against a deficit of $4.6 billion (0.7 per cent of GDP) in Q4 of 2018-19.

India posted a marginal current account surplus in Q4 FY20 on the back of lower trade deficit, along with higher remittances and an increase in investment flows, official data showed on Tuesday.

India's current account balance recorded a marginal surplus of $0.6 billion (0.1 per cent of GDP) in Q4 of 2019-20 as against a deficit of $4.6 billion (0.7 per cent of GDP) in Q4 of 2018-19.

On a sequential basis, the country had reported a deficit of $2.6 billion (0.4 per cent of GDP) in the preceding quarter of Q3 of 2019-20.

"The surplus in the current account in Q4 of 2019-20 was primarily on account of a lower trade deficit at $35 billion and a sharp rise in net invisible receipts at $35.6 billion as compared with the corresponding period of last year," the RBI said in its statement on developments in India's Q4FY20 balance of payments.


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