Current account gap narrows sequentially to $13.4 bn in Jan-Mar: RBI

India's current account deficit narrowed sequentially in the three months from January to March, mainly on the back of a moderation in the trade gap and a lower net outgo of primary income, the Reserve Bank of India said on Wednesday.

The current account deficit INCURA=ECI stood at $13.4 billion or 1.5% of GDP in the fourth quarter of fiscal year 2021/22, compared with $22.2 billion or 2.6% of GDP in the preceding October-December quarter.

The deficit had stood at $8.1 billion in the same quarter a year ago, the release showed.