Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India records current account deficit of 0.2% in December quarter.

Date: 01-04-2021
Subject: India records current account deficit of 0.2% in December quarter
MUMBAI: India's current account swung to a deficit for the first time in the current fiscal, with the gap coming at $1.7 billion or 0.2 per cent of the GDP in the December quarter.

In the current fiscal, as the pandemic impacted trade, the current account had been in surplus in the previous two quarters, at $15.1 billion and $19 billion, respectively, as per the data on balance of payments released by the RBI on Wednesday. 

The critical measure of a country's external strength now stands at a surplus of 1.7 per cent of GDP for the first nine months of the fiscal year as against a deficit of 1.2 per cent in the year-ago period.

In the December quarter, there was a rise in the merchandise trade deficit to $34.5 billion from $14.8 billion in the preceding quarter, and an increase in net investment income payments. 

Net services receipts increased to $23.6 billion, both sequentially and on a year-on-year basis, primarily on the back of higher net export earnings from computer services, the RBI said. 

Private transfer receipts, which mainly represent remittances by the diaspora, came at $20.7 billion for the reporting quarter. This was a marginal decline when compared to October-December 2019 period but a gain of 1.5 per cent when compared with July-September 2020 period. 

According to the data, net outgo on the primary income account, primarily reflecting payments of investment income, increased to $10.1 billion from $7.4 billion a year ago. 

In the financial account, net foreign direct investment recorded a robust inflow of $17 billion in the December quarter as compared with $9.7 billion in the year-ago period. 

With repayments exceeding fresh disbursals, external commercial borrowings to India recorded net outflow of $1.7 billion in the December quarter as against an inflow of $3.2 billion a year ago, it said. 

Net accretions to non-resident deposits increased to $3 billion from $0.8 billion in Q3FY20, it said. 

There was an accretion of $32.5 billion to the foreign exchange reserves on a Balance of Payment basis as compared with $21.6 billion in Q3FY20, the RBI data said. 


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 23-09-2022
NOTIFICATION No. 81 /2022-Customs (N.T.)
Courier Imports and Exports (Electronic Declaration and Processing ), Second Amendment, Regulations, 2022 for facilitating E-commerce exports of jewellery-Reg.

Date: 16-09-2022
Notification No. 29/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to decrease the Special Additional Excise Duty on production of Petroleum Crude and export of Aviation Turbine Fuel.

Date: 16-09-2022
Notification No. 30/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to decrease the Special Additional Excise Duty on Diesel.

Date: 15-09-2022
NOTIFICATION No. 79/2022-Customs (N.T.)
Electronic Duty Credit Ledger (Amendment) Regulations, 2022

Date: 15-09-2022
Notification No. 77/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 15-09-2022
Notification No. 78/2022 - Customs (N.T.)
Exchange rate Notification No. 78/2022-Cus (NT) dated 15.09.2022-reg.

Date: 14-09-2022
NOTIFICATION No. 76/2022-Customs (N.T.)
Seeks to amend RoSCTL notificatio

Date: 14-09-2022
NOTIFICATION NO. 75/2022-Customs (N.T.)
Seeks to amend RoDTEP notification.

Date: 08-09-2022
Notification No. 49/2022-Customs
Seeks to amend Second Schedule to the Customs Tariff Act to prescribe export duty on specified Rice products.

Date: 07-09-2022
Notification No. 47/2022-Customs
Seeks to amend notification No. 56/2000-Customs, dated the 5th May, 2000 to apply IGCR Rules with effect from 01.10.2022

Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001