March quarter current account gap 3.6% of GDP - Moneycontrol.com

India's March quarter current account deficit was USD 18.1 billion, or 3.6 percent of GDP, lower than expected and below the USD 21.7 billion deficit a year earlier, the Reserve Bank of India said on Thursday. A Reuters poll had forecast the March quarter current account deficit at USD 21.59 billion, or 4.4 percent of GDP. Also read: Macroeconomic risks to economy rising: RBI The current account gap for the full fiscal year that ended in March 2013 was USD 87.8 billion, which was 4.8 percent of GDP, compared with USD 78.2 billion a year earlier. The balance of payments for the January-March quarter was a USD 2.68 billion surplus, compared with a USD 5.7 billion deficit a year earlier. For fiscal year 2012/13, the balance of payments surplus was USD 3.83 billion, compared with a deficit of USD 12.8 billion a year earlier. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFd8P2KnXEFBAszJ2OZDFCv9RDdyg&url=http://www.moneycontrol.com/news/economy/march-quarter-current-account-gap-36gdp_907396.html

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