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.
This story is from the December 28, 2024 edition of Financial Express Chennai.
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This story is from the December 28, 2024 edition of Financial Express Chennai.
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