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Current account deficit at $13 bn in Jan-March: RBI

Current account deficit at $13 bn in Jan-March: RBI
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First Published: Wed, Jun 30 2010. 04 48 PM IST
Updated: Wed, Jun 30 2010. 04 48 PM IST
Mumbai: Current account deficit widened to $13 billion in the March-quarter, compared with $12.2 billion in Oct-Dec, the Reserve Bank of India (RBI) said on Wednesday.
The Oct-Dec current account deficit was revised upwards to $12.2 billion from $12.03 billion that was announced in March.
The current account deficit stood at $1.2 billion in the Jan-March quarter of the fiscal year 2008-09.
The RBI said the balance of payments surplus in Jan-March was $2.1 billion, compared with a surplus of $1.8 billion in the Oct-Dec quarter.
The balance of payments had a marginal surplus of $0.3 billion in the corresponding quarter a year earlier, the bank said.
India’s merchandise trade deficit was $31.5 billion in the March-quarter as against an upwardly revised $31.1 billion in the December-quarter.
The merchandise trade deficit stood at $20.2 billion in Jan-March quarter of 2008/09.
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First Published: Wed, Jun 30 2010. 04 48 PM IST