India records current account surplus of 0.1% of GDP, at $600 mn in Q4

As against this, there was a deficit of $4.6 bn, or 0.7% of GDP in the year ago quarter and $2.6 billion (0.4% of GDP) in Q3 of 2019-20

India’s current account turned surplus, albeit marginally, in the fourth quarter of FY20 as trade deficit narrowed, the Reserve Bank of India (RBI) said on Tuesday.

The current account balance turned surplus by $0.6 billion, or 0.1 per cent of Gross Domestic Product (GDP), in Q4FY20 as against a deficit of $4.6 billion, or 0.7 per cent of GDP, in the year-ago quarter and $2.6 billion (0.4 per cent of GDP) in Q3.

“The surplus was primarily on account of a lower trade deficit at $35 billion and a sharp rise in net invisible receipts at $35.6 billion as compared with the