India's current account deficit narrowed to 1.3 billion dollars or 0.2 % of GDP in January-March quarter of FY23

India's current account deficit narrowed to 1.3 billion dollars or 0.2 percent of GDP in the January-March quarter of FY23. According to the data released by the Reserve Bank today, the decline was mainly due to moderation in the trade deficit and a robust increase in services exports. However, for fiscal 2022-23, the current account balance recorded a deficit of 2 percent of GDP compared to a deficit of 1.2 percent in 2021-22 as the trade deficit widened to 265.3 billion dollars from 1...