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Current Account Deficit: Due to global reasons, rise in commodity prices and weakness in rupee against dollar has made imports costlier, which has had an impact on the current account deficit figure. In the first quarter of the current fiscal year 2022-23, from April to June, the current account deficit has increased to $23.9 billion, which is 2.8 percent of GDP. Whereas during the January to March quarter, the current account deficit was $ 13.4 billion, which is 1.5 percent of GDP. Whereas in the same quarter of its fiscal year, there was $6.6 billion in current account deficit surplus.
RBI has released this data. According to the RBI, the trade deficit between April and June stood at $ 68.6 billion, which was $ 54.5 billion between January and March. Also, due to increase in withdrawal of investment income payment, the current account deficit has also increased. RBI has said that the current account deficit is estimated to be 3 percent of GDP in 2022-23, which was 1.2 percent of GDP in its first financial year.
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