By Reuters Staff
FILE PHOTO: A woman puts flower petals on the new 100 Indian rupee notes as she prays as part of a ritual during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Ahmedabad, India, November 5, 2018. REUTERS/Amit Dave
NEW DELHI (Reuters) – India is likely to report a current account surplus at the end of the current financial year ending in March 2021, mainly led by a fall in imports, the chief economic adviser at the ministry of finance said on Monday.
Indias current account surplus rose to a record $19.8 billion in April-June as its trade deficit narrowed sharply, the Reserve Bank of India said earlier.
Demand for imports has fallen amid the COVID-19 pandemic, coupled with recent economic reforms initiated by the government to boost manufacturing, Krishnamurthy Subramanian told a virtual conference organised by Confederation of Indian Industry (CII).read more
India likely to report current account surplus for current fiscal year – adviser – Reuters India
