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India's current acc deficit widens, but balance of payments in surplus
December 8, 2014 / 12:06 PM / 3 years ago

India's current acc deficit widens, but balance of payments in surplus

MUMBAI, Dec 8 (Reuters) - India’s current account deficit widened to $10.1 billion, or 2.1 percent of gross domestic product, in the July-September quarter, higher than both the previous quarter and a year earlier, the Reserve Bank of India said on Monday.

India’s current account deficit had reached $5.2 billion, or 1.2 percent of GDP a year earlier, the RBI said. In the previous quarter, the deficit had reached $7.8 billion, or 1.7 percent of GDP.

But the balance of payment stood at a surplus of $6.9 billion during July-September, a fourth consecutive quarter of surplus, although that was narrower than the $11.2 billion surplus in the previous quarter.

The trade deficit in the July-September period rose to $38.6 billion from $34.6 billion a quarter ago. (Reporting by Neha Dasgupta and Swati Bhat; Editing by Rafael Nam)

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