Current account gap narrows to 2% of GDP in June quarter
Updated : October 01, 2019 08:37 AM IST
India's current account deficit (CAD) narrowed to 2 percent of gross domestic product in the June quarter of the fiscal year ending March 2020 from 2.3 percent in the same period a year ago due to higher invisible receipts, the central bank said.
The current account deficit stood at $14.3 billion in the June quarter versus $15.8 billion a year ago.
Balance of payments, the difference between current account and capital account, stood at a surplus of $14 billion in the June quarter compared to a deficit of $11.3 billion a year ago, data showed.