Mumbai: The Indian account currently slips into a $ 9.6 billion deficit or 1.3 percent of GDP in the September quarter, said Reserve Bank on Friday.
The current account, which records the value of exports and imports of goods and services together with international capital transfer, in surplus mode both in the past quarter and last year.
The current Indian account surplus has reached $ 6.6 billion or 0.9 percent of GDP in the April-June 2021 quarter, while in the past year (Q2FY22), the surplus had reached $ 15.3 billion or 2.4 percent of GDP , The word data.
For the reporting quarter, the deficit was mainly due to the widening of the trade deficit to $ 44.4 billion from $ 30.7 billion in the previous quarter, and increased outgo outgo from investment income, RBI said.
Clean service reception declined marginally during the previous quarter but increased on the base of the year-to-year, behind the strong performance of the export of computer and business services, he added.