India’s current account deficit in the first quarter stood at 1.1% of GDP

India’s current account deficit (CAD) widened sequentially to $9.2 billion (1.1% of gross domestic product) in the first quarter of the current fiscal compared to $1.3 billion in the previous quarter, as reported by the Reserve Bank of India (RBI) released data showed.

However, the CAD declined on an annual basis in the quarter ended June. In the first quarter of FY23, CAD was $17.9 billion (2.1% of GDP).

According to the RBI, the expansion in CAD compared to the previous quarter was mainly due to a higher trade deficit coupled with a narrower surplus in net services and a decline in private transfer receipts.

Net revenue from services declined sequentially, primarily due to a decline in exports of computer, travel and business services, but remained higher year-on-year (year-on-year), it said.

Private transfer receipts, which primarily represent remittances from Indians employed abroad, fell from $28.6 billion in the fourth quarter of FY23 to $27.1 billion in the first quarter of FY2024, but recorded a decline in year-on-year increase.

Net outflow on the income account, which primarily reflects capital gains payments, fell to $10.6 billion in the April-June quarter from $12.6 billion in the fourth quarter of fiscal 2023, but was higher than a year ago Year.

In the financial balance sheet, net foreign direct investment fell to $5.1 billion in the first quarter of fiscal 2024 from $13.4 billion a year ago. Net foreign portfolio investment recorded inflows of $15.7 billion versus net outflows of $14.6 billion in the first quarter of fiscal 2023.

Net external loans to India recorded an inflow of $5.6 billion in the first quarter of fiscal 2024, compared to an outflow of $2.9 billion a year ago.

Non-resident deposits recorded net inflows of $2.2 billion, compared to $0.3 billion in the first quarter of fiscal 2023.

The central bank also released data on India’s international investment position at the end of June.

Net claims of non-residents in India increased by $12.1 billion in the first quarter and stood at $379.7 billion at the end of June 2023. The increase in net claims of non-residents during the quarter was due to a rise in foreign claims. RBI data shows that financial assets in India ($36.2 billion) compared to the financial assets of Indian residents abroad (24, 1 billion US dollars).

According to the banking regulator, a $16.6 billion increase in foreign reserves contributed the most to the increase in foreign assets of Indian residents during April-June 2023, followed by direct investment, loans and trade credit.

According to RBI data, foreign portfolio investment of $15 billion and foreign direct investment of $8.9 billion together accounted for two-thirds of the increase in foreign liabilities of Indian residents.

At the end of June 2023, India’s external debt stood at $629.1 billion, an increase of $4.7 billion from the level at the end of March 2023.

External debt to GDP fell from 18.8% at the end of March 2023 to 18.6% at the end of June 2023. US dollar-denominated debt remained the largest component of India’s external debt, accounting for 54.4% at the end of March 2023 2023, followed by debt in the Indian rupee (30.4%), SDR (5.9%), yen (5.7%) and euro (3.0%).

Sybil Alvarez

"Incurable gamer. Infuriatingly humble coffee specialist. Professional music advocate."

Leave a Reply

Your email address will not be published. Required fields are marked *

naughty cam girls adultcamslive.cc karly_angel
hindi sex clips xlxx.pro sexy hot imges
vasundhara kashyap nude video tubeshere.info indian xvideoa
sexy lady bf tubeband.mobi girl with horse sex
xmxx motherless.pro mallu mms scandal
سكس ىابانى eroplaytube.com سكس\
wwww xxxx vidos pornindianhub.info www.xxx movie
tamil pornhub 2beeg.mobi chudaimaza
lobsters tube zatube.mobi gujarati sex videos
indian bollywood porn pornogator.net kochikame porn
bengali actress porn video free-porn-hose.net xvideo bangladeshi
boss secretary sex hdsexword.mobi xxx dasi sex video
sexxx3 hamsterporn.mobi malayalam sex with
garo xxx video brostube.mobi todayspkmovies
rajasthan sax video pelisporno.org andhra sexy video download