According to the data released by the Reserve Bank, the current account deficit (CAD) of India has been narrowed to 1.3 billion dollars or 0.2% of GDP in the January-March quarter of the last fiscal (2022-23).
The decline was mainly due to moderation in the trade deficit and a robust increase in services exports.
RBI data has shown that net services receipts increased, both sequentially and on a year-on-year basis, on the back of a rise in net earnings from computer services..
Source : AIR