SME Times is powered by   
Search News
Just in:   • India needs to diversify export portfolio: Report  • Domestic airlines to fly 12,983 flights per week this winter  • New energy policy won't violate deals with US, Canada: Mexican Prez  • 'Digitisation need of the hour for logistics sector'  • KTR calls for empowering states to boost country's growth 
Last updated: 30 Sep, 2020  

Rupee.9.Thmb.jpg Current account surplus at $19.8B in Q1FY21

CAD.9.jpg
   Top Stories
» India needs to diversify export portfolio: Report
» 'Digitisation need of the hour for logistics sector'
» 'IBC raised confidence of all investors in economy'
» Relief to borrowers on loans not repaid during 6-month moratorium
» GST return filing deadline extended, again
SME Times News Bureau | 30 Sep, 2020

India posted a healthy current account surplus in Q1FY21 on the back of lower trade deficit, official data showed on Wednesday.

According to Reserve Bank of India's data on India's Balance of Payments (BoP), a year-on-year basis the Q1FY21 surplus stood at $19.8 bil lion from a deficit of $15 billion reported for the corresponding period of the previous fiscal.

"India's current account balance (CAB) recorded a surplus of $19.8 billion (3.9 per cent of GDP) in Q1 of 2020-21 on top of a surplus of $0.6 billion (0.1 per cent of GDP) in the preceding quarter, i.e., Q4 of 2019-20; a deficit of $15 billion (2.1 per cent of GDP) was recorded a year ago," the Reserve Bank said in its statement on developments in India's Q1FY21 BoP.

"The surplus in the current account in Q1 of 2020-21 was on account of a sharp contraction in the trade deficit to $10 billion due to steeper decline in merchandise imports relative to exports on a year-on-year basis."

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 26 Oct, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» 'Centre open to further economic stimulus'(1)
» Delay in dealing with GST refund delays(1)
» NPAs hurdle to banks' rate cut transmission(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter