Diabytes
India's balance of payments News
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India's balance of payments (INBOP=ECI) stood at a surplus of $5.6 billion compared to a surplus of $11.1 billion in the preceding quarter and a deficit of $16 billion in the same quarter a year earlier. Private transfer receipts, mainly representing remittances by Indians employed overseas, increased to $28.6 billion, up 20.8% from a year ago.
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India's current account deficit widens to $23.9 billion by 2.8% in April-June period.
The RBI on Thursday released the preliminary data on India`s balance of payments (BoP) for Q1.
Services exports grew y-o-y by 35.4%, led by broad-based growth in computer, business, etc.
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The July-September CAD is lower than USD 10.9 billion, or 2.2 percent of GDP, in the same quarter of last fiscal.
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