MUMBAI: India's current account deficit, a key indicator of the balance of payment position, widened to 2.8 per cent of GDP at $23.9 billion in the first quarter of the current financial year, mainly on account of a higher trade deficit.
As per the data released by the Reserve Bank on India's Balance of Payments during the First Quarter (April-June) of 2022-23, the current account balance recorded a deficit of $23.9 billion (2.8 per cent of GDP) in the first quarter, up from $13.4 billion (1.5 per cent of GDP) in January-March period of the last fiscal.
