India`s current account deficit widens to 2.8% of GDP in Q1FY23: RBI
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/78e2dbc6e0e3fc24ae1431a49e372a36.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
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 (Q1FY23), mainly on account of a higher trade deficit.
As per the data released by the Reserve Bank on India's (RBI) 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.
Data also stated that India's current account surplus stood at $6.6 billion, equivalent to 0.9 per cent of GDP in the first quarter (April-June) of 2021-22. Underlying the current account deficit in Q1FY23 was the widening of the merchandise trade deficit to $68.6 billion from $54.5 billion in Q4FY22 and an increase in net outgo of investment income payments. It also said net services receipts increased, both sequentially and on a year-on-year (y-o-y) basis, on the back of rising exports of computer and business services.
![](https://portfolio.investmentguruindia.com/uploads/news/Brigade Enterprises.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ipca Laboratories Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/narendramode37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Muthoot Finance ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/hiroshiyoshida.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Skills Revolution1231.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/cummins.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/investment37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tata Steel Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tarun Chugh, MD & CEO, Bajaj Allianz Life.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c5541407585e9dfdc52f905c92d59e61.jpg)
Monthly Debt Market Update, September 2023: CareEdge Ratings
![Quote on RBI decision to discontinue the incremental cash reserve ratio (CRR) By Dr. Manoranjan Sharma, Infomerics Ratings](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/3fb5395769079c26d9056714d034c581.jpg)
![Governance mechanism, customer-centricity can help in fintech ecosystem sustainable growth: Ajay Chaudhary](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/07e25a74a16d5c092d179215565d0295.jpg)
![3 Centres of Excellence set up by TIDCO finding good traction: Tamil Nadu Minister](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/e6ff15c8d3a72074f69cb881ab6584e7.jpg)