India's FY24 CAD narrows to 0.7% of GDP from 2% in FY23, records surplus of 0.6% in Q4.

Economy Business

India’s current account registered a surplus in the final quarter of the previous fiscal boosted by higher services. Its current account deficit (CAD) decreased in FY24 due to lower merchandise trade deficit, the Reserve Bank of India (RBI) said on June 24. The country’s Current Account Deficit (CAD) decreased to 0.7 percent of GDP, or $23.2 billion in FY24, down from 2 percent of GDP, or $67 billion, in FY23.


      Foreign portfolio investment experienced a net inflow of $44.1 billion in FY24 compared to a net outflow of $5.2 billion in FY23.

      Meanwhile, net FDI inflow dropped to $9.8 billion in FY24 compared to $28 billion in FY23.

     

 

     


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