India’s current account deficit narrowed sharply in the fourth quarter of fiscal year 2022-23, to $1.3 billion owing to moderation in trade deficit and robust services exports. The Q4 CAD dropped to 0.2% of GDP.
As per RBI’s latest data, India’s current account deficit (CAD) decreased to $1.3 billion, 0.2% of GDP in Q2 of the 2022-23 financial year.
In the previous quarter, the CAD stood at $16.8 billion, 2% of GDP. A year ago, in Q4, the CAD was at $ 13.4 billion, or 1.6% of GDP.
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Updated: 27 Jun 2023, 04:48 PM IST