According to the RBI, a deficit of $7.6 billion (1.1 per cent of GDP) was recorded a year ago — Q2 of 2019-20. The current account surplus moderated to $15.5 billion (2.4 per cent of GDP) in the quarter ended September of 2020-21 from $19.2 billion (3.8 per cent of GDP) in the first quarter this fiscal. According to the RBI, a deficit of $7.6 billion (1.1 per cent of GDP) was recorded a year ago — Q2 of 2019-20. The narrowing of the current account surplus in Q2 of FY21 was on account of a rise in the merchandise trade deficit to $14.8 billion from $10.8 billion in the preceding quarter, the Reserve Bank of India (RBI) said. In the financial account, net foreign direct investment (FDI) recorded robust inflow of $24.6 billion as against $7.3 billion in the second quarter of 2019-20.

Source: Indian Express December 30, 2020 23:37 UTC