The country’s current account surplus rose to $19.8 billion or 3.9% of GDP in the June quarter as merchandise imports declined amid the COVID-19 pandemic, the Reserve Bank said on Wednesday. The current account surplus stood at $0.6 billion or 0.1% of GDP in the March quarter while there was a current account deficit of $15 billion or 2.1% of GDP in the year-ago period.“The surplus in the current account in Q1 of 2020-21 was on account of a sharp contraction in the trade deficit to USD 10.0 billion due to steeper decline in merchandise imports relative to exports on a year-on-year basis,” Reserve Bank of India said.
A letter from the Editor
Dear reader,We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.
Support Quality Journalism
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath
