November 22, 2024 15:40 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi bestowed Dominica's highest award at India-CARICOM Summit | 69-year-old Delhi man, a St. Stephen's alumnus, arrested for conning govt officers by posing as ex-IPS | 'Baseless': Adani Group denies US charges of bribery and fraud against Gautam Adani | AAP's first list of candidates for Delhi polls feature six turncoats | PM Modi is incapable to arrest Gautam Adani: Rahul Gandhi after tycoon charged with bribery and fraud in the US
India's current account deficit reduces to $10.5 billion in Dec qtr: RBI
Photo Courtesy: Pixabay

India's current account deficit reduces to $10.5 billion in Dec qtr: RBI

| @indiablooms | 26 Mar 2024, 09:55 pm

New Delhi: India's current account deficit lessened to $10.5 billion or 1.2 percent of the GDP in the October-December quarter, from $11.4 billion in the preceding three months and $16.8 billion a year earlier, Reserve Bank of India (RBI) said on Tuesday.

The net Foreign Direct Investment (FDI) inflow stood at $8.5 billion for the period of April-December 2023, a decrease from $21.6 billion recorded during the same period in 2022.

The foreign exchange reserves (on a Balance of Payments basis) stood at $6.0 billion in the October-December quarter of the current financial year, compared to $11.1 billion a year ago.

External commercial borrowings to India experienced a net outflow of $2.6 billion in October-December, contrasting with a net outflow of $2.5 billion observed a year earlier.

Meanwhile, non-resident deposits witnessed a greater net inflow of $3.9 billion compared to $2.6 billion recorded in the corresponding period last year.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.