India's current account deficit widens to 1.1% of GDP in April-June 2024

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India's current account deficit widens to 1.1% of GDP in April-June 2024 - Business Standard

Quick Summary:

The current account deficit stood at $9.7 billion, or 1.1 per cent of the GDP, in the fiscal first quarter, compared with a deficit of $8.

There was an accretion of $ 5.2 billion to the foreign exchange reserves on a BoP (balance of payments) basis in Q1 FY25 as compared to $ 24.4 billion in Q1 FY24, the RBI said.

Non-resident deposits (NRI deposits) recorded net inflows of $ 4 billion, and was higher than $ 2.2 billion a year ago, the RBI said.