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India likely to report current account surplus for FY21: CEA

India's 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

twitter-logoReuters | November 23, 2020 | Updated 14:09 IST
India likely to report current account surplus for FY21: CEA
Chief Economic Advisor K V Subramanian

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.

India's 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).

Also read: PM Modi praises UP govt for pace of development amid COVID-19 pandemic

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