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  • India’s current account went into deficit in Q2 – Times of India
Business

India’s current account went into deficit in Q2 – Times of India

December 31, 2021
Sezarr

Mumbai: Of India current account slipped in loss of $9.6 billion, or 1.3 percent Gross Domestic Product In the September quarter, Reserve bank Said on Friday. The current account, which records the value of international transfers of capital as well as exports and imports of goods and services, was in surplus mode in both the quarter-ago and year-ago periods.
India’s current account surplus The April-June 2021 quarter accounted for $6.6 billion or 0.9 per cent of GDP, while in the year-ago period (Q2FY22), the surplus stood at $15.3 billion or 2.4 per cent of GDP, the data said.
For the reporting quarter, the deficit widened primarily to $44.4 billion from $30.7 billion in the previous quarter and increased net expense of investment income. reserve Bank of India said.
It added that net services receipts declined marginally over the previous quarter, but increased on a year-on-year basis due to the strong performance of computer and business services exports.

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Tags: account surplus, business News, current account, Gross Domestic Product, Loss, Reserve bank, reserve Bank of India

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