Zee Media Bureau
New Delhi: India's current account deficit (CAD) doubled to USD 8.2 billion or 1.6 percent of gross domestic product (GDP) in the October-December quarter on a year-to-year basis.
However, the CAD was lower than the previous quarter which stood at USD 10.1 billion or 2 percent of the GDP, according to the Reserve Bank of India report.
The current account deficit had reached USD 4.2 billion, or 0.9 percent of GDP a year earlier, the RBI said.
But the balance of payment stood at a surplus of $13.2 billion during October-December, a fifth consecutive quarter of surplus. It was also almost double the $6.9 billion surplus in the previous quarter.
Meanwhile, the trade deficit for the same quarter widen to USD 39.2 billion as exports declined.
With Agency Inputs
