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Current account deficit widens to 2.8% of GDP in Q1; trade deficit jumps

Services exports, remittances show momentum in Q1

Rupee, Indian Rupee, Indian currency

The CAD figures for the first quarter of the current year lower than those estimated by analysts, who had predicted the current account deficit at around 3 per cent of GDP

Bhaskar Dutta Mumbai
India’s current account deficit (CAD) in April-June was at $23.9 billion, or 2.8 per cent of gross domestic product (GDP), much higher than the $13.4 billion, or 1.5 per cent of GDP, in January-March 2022, the Reserve Bank of India (RBI) said on Thursday.

India had recorded a current account surplus of $6.6 billion, or 0.9 per cent of GDP, in April-June 2021. The CAD for FY22 was 1.2 per cent of GDP, or $38.7 billion. For the first quarter of the current year, it is lower than analysts’ prediction of around 3 per cent of GDP.

“Underlying the current account deficit

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First Published: Sep 29 2022 | 8:35 PM IST

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