INSUBCONTINENT EXCLUSIVE:
Despite COVID, net foreign direct investment inflows at $44 billion were higher in FY21India reported a current account surplus of 0.9 per
cent of GDP in the pandemic-hit FY21, as against a deficit of 0.9 per cent in FY20, data released by the RBI showed on Wednesday
billion or 0.1 per cent of the GDP in the year-ago period and a deficit of 0.3 per cent in the preceding December quarter, as per the
central bank data.The CAD, the gap between the country's overall foreign receipts and payments, is an important factor representing a
nation's external sector's strength
The Reserve Bank of India said the current account balance swung into the surplus territory on the back of a sharp contraction in the trade
overseas investment income payments and lower net private transfer receipts, even though net services receipts were higher than the year-ago
in 2019-20, the central bank added
Net foreign portfolio investments also increased by $ 36.1 billion in FY21 as compared to $1.4 billion a year ago, it said.External
the March quarter was higher primarily on account of a higher trade deficit and lower net invisible receipts than in the corresponding
period of the previous year, the RBI said
Private transfer receipts, mainly representing remittances by Indians employed overseas, increased to USD 20.9 billion, up by 1.7 per cent
from the year-ago level.Net outgo from the primary income account, primarily reflecting net overseas investment income payments, increased
