INDIA'S CURRENT ACCOUNT deficit (CAD) in the second quarter of this financial year shrunk marginally to 1.2% of GDP from 1.3% a year ago primarily due to a rise in services exports, data released by the Reserve Bank of India (RBI) showed on Friday.
In absolute terms, the CAD stood at $11.2 billion in Q2FY25, compared with $11.3 billion in the same quarter of FY24. In Q1FY25, the CAD stood at $9.7 billion, or 1.1% of the GDP.
"A strong service trade surplus continues to be an important counterweight to the wider goods shortfall," said Radhika Rao, senior economist at DBS Bank.
In Q2, services trade surplus rose to $44.5 billion from $39.9 billion a year ago.
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Denne historien er fra December 28, 2024-utgaven av Financial Express Hyderabad.
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Bajaj Auto's EV charge
LAUNCH OF MASS MARKET SCOOTERS PAYS OFF
Special Category Visa for Foreign Students
INDIA HAS LAUNCHED two special category visas for international students intending to pursue higher education in academic institutions in the country.
Stars who couldn't walk the talk
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Indian-Origin IT Companies Corner a Fifth of H-1B Visas
INDIAN-ORIGIN TECH COMPANIES cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services (TCS) leading the pack, an analysis of data from the US immigration department showed.
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