Login With Google
Current account surplus
Why is it in news?
- According to RBI data, India recorded a surplus of $19.8 billion (3.9% of GDP) in its current account balance in the first quarter of FY21.
Details:
- A deficit of $15 billion (2.1% of GDP) was recorded a year earlier.
- The surplus this time was on account of a steeper decline in merchandise imports relative to exports on a year-on-year basis.
- There is a sharp contraction in trade deficit to $10 billion.