$13.5bn current surplus

India’s current account has seen a significant turnaround from previous deficits, driven by robust services exports and reduced primary income outgo. Increased remittances and strong service sector performance contributed to the entire fiscal year’s performance

- PRESS TRUST OF INDIA

India posted a current account surplus of $13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with $4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to Reserve Bank of India (RBI) data released Friday.

However, on annual basis, the current account was in deficit at $23.3 billion (0.6 per cent of GDP) during 2024-25, said the ‘India's Balance of Payments during the Fourth Quarter (January-March) of 2024-25' released by RBI.

"India's current account balance recorded a surplus of $13.5 billion (1.3 per cent of GDP) in Q4:2024-25 as compared with $4.6 billion (0.5 per cent of GDP) in @4:2023-24 and against a deficit of $11.3 billion (1.1 per cent of GDP) in Q3:2024-25," RBI said.