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India's current account remains in surplus in Q2 of 2020-21

Dec 30, 2020 22:39 IST

According to Reserve bank of India's report, India's current account surplus shrank to $15.5 billion in the July-September quarter from a record $19.2 billion in April-June as its merchandise trade deficit grew. As per the data, the surplus stood at 2.4% of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1% of GDP. The recent current account surpluses, three straight quarters, has largely been caused by a decline in the country's trade deficit, caused by the covid-19 pandemic, and by a drop in economic activity. 

National