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India records current account surplus of $19.8 bn in Q1FY21

India’s current account balance recorded a surplus of $19.8 billion in Q1FY21 on top of a surplus of $0.6 billion in the March quarter of 2019-20. There was a current account deficit of $15.0 billion in the year-ago period.

The surplus was on account of a sharp contraction in the trade deficit to $10 billion from $47 billion in the corresponding quarter of the last year, as per the data released by the Reserve Bank of India on Wednesday.

However, the net foreign direct investment recorded an outflow of $0.4 billion as against inflows of $14.0 billion in the first quarter of 2019-2020, the data showed.

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