27 June,2025 06:45 PM IST | Mumbai | PTI
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India's current account balance registered a surplus of 13.5 billion dollars (1.3 per cent of GDP) in the January-March quarter of 2024-25, a notable increase compared to a 4.6 billion dollar surplus (0.5 per cent of GDP) in the same period last year, according to the Reserve Bank of India (RBI) on Friday.
This marks a significant turnaround from the deficit of 11.3 billion dollars (1.1 per cent of GDP) recorded in the December quarter of 2024-25.
On an annual basis, India's current account deficit for the entire 2024-25 fiscal year stood at 23.3 billion dollars (0.6 per cent of GDP), which is lower than the 26 billion dollar deficit (0.7 per cent of GDP) in 2023-24. This improvement was primarily driven by higher net invisible receipts.
The merchandise trade deficit in the fourth quarter of 2024-25 was 59.5 billion dollars, higher than the 52 billion dollars in the fourth quarter of 2023-24. However, it showed moderation from the 79.3 billion dollars recorded in the third quarter of 2024-25, as per the RBI's 'Developments in India's Balance of Payments during the Fourth Quarter (January-March) of 2024-25'.
Net services receipts also saw a substantial increase, rising to 53.3 billion dollars in the January-March 2024-25 quarter from 42.7 billion dollars a year ago.
This rise in services exports was observed across major categories, including business services and computer services, on a year-on-year basis.
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