The surplus stood at 0.9% of the gross domestic product in the latest quarter
Experts say surge in gold imports contributed to widening of CAD in Q4FY21, in spite of spike in exports
However, the current account remained in surplus at 1.7% for Apr-Dec 2020 as against in a deficit of 1.2% in Apr-Dec 2019
India is the third most indebted country among major emerging markets, behind Argentina and Brazil.
India is likely to post a current account surplus after a gap of 17 years, the survey said
The performance of Indian equities will mirror a larger trend of EMs doing better than developed markets
Former FM says is puzzled by tone of CEA Krishnamurthy Subramanian's remarks, wonders if he celebrating a current account surplus
India's gold imports, which have a bearing on the current account deficit, plunged 81.22% to $2.47 billion during April-July period of 2020-21 due to a notable fall in demand in the wake of Covid-19
The current account surplus was 167.5 billion yen ($1.58 billion), the smallest monthly surplus since January 2015
The country has been perennially struggling with huge current account deficits.
It is important to remove the frictions, to connect the infinite capital of the global financial system with end-users in India
The CAD is a critical indicator of the macroeconomic health and represents the gap between the overall foreign exchange expended and received in the economy.
Foreign portfolio investment recorded net inflow of $2.5 billion, against an outflow of $1.6 billion in the year-ago quarter, due to higher flow in the debt market.
In the first quarter, the deficit stood at 2 per cent of GDP or $14.2 billion
Private transfer receipts, mainly representing remittances, rose 6.2 per cent to $19.9 billion
In the year-ago period, CAD had printed at 2.3 percent of GDP or USD 15.8 billion
Drone attack damaged the world's biggest crude oil processing plant in Saudi Arabia and led to a 19 per cent surge in oil prices.
The current account deficit is likely to decline substantially to $10-11 billion in the second quarter
Whilst the noise on feasibility of budget numbers and risks on sovereign borrowing would persist in the near term, the budget outcome has certainly eased the job for RBI MPC to ease rates further
In absolute terms, the CAD stood at $4.6 billion in the current fourth quarter, compared with $13 billion in the year-ago quarter and $17.7 billion in the third quarter of fiscal year 2018-19