1st March 2023 (8 Topics)
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A Steady Stream
Context:
- As per the RBI’s quarterly statistics, the current account deficit (CAD) widened, and it is seen as a matter of concern as it may have impacts on Trade.
Findings from RBI’s Data:
- The current account deficit (CAD) widened to 4.4 per cent of GDP in the second quarter of 2022-23, down from 2.2 per cent in the preceding quarter.
- The latest statistics also reveal a sharp decline in the trade deficit to $1.27 billion in January on the back of a significant rise in net services exports.
- India’s services exports grew at 23.5 per cent in 2021-22.
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