India recorded a current account surplus of $ 0.6 billion or 0.1 per cent of GDP for the January-March quarter against a deficit of $4.6 billion or 0.7 per cent of GDP in the year-ago period, the Reserve Bank said on Tuesday.
For the fiscal year 2019-20, the current account deficit narrowed to 0.9 per cent of the GDP compared to 2.1 per cent in FY2018-19, the central bank said. Lower trade deficit was one of the prime reasons for the improvement in the current account balances both for the March quarter as well as for the whole fiscal year.