<p> New Delhi: India's current account deficit declined to $10.5 billion or 1.2 per cent of the <a href="https://www.deccanherald.com/opinion/8-4-gdp-growth-look-under-the-hood-2921772#:~:text=India's%20GDP%20during%20the%20three,a%20row%20after%20the%20pandemic.">GDP</a> in October-December quarter from $11.4 billion in the previous three months and $16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday.</p>.<p> Net FDI inflow at $8.5 billion during April-December 2023 was lower than $21.6 billion during April-December 2022, it said.</p>.<p> Also, accretion of foreign exchange reserves (on a BoP basis) was at $6.0 billion in October-December (third quarter of current financial year that ends on March 31) compared to an accretion of $11.1 billion a year ago.</p>.RBI showing serious commitment to improve governance, transparency in finance firms, banks: S&P.<p> The merchandise trade deficit at $71.6 billion was marginally higher than $71.3 billion during the third quarter of 2022-23.</p>.<p> Services exports grew by 5.2 per cent on a year-on-year basis on the back of rising exports of software, business and travel services. Net services receipts increased both sequentially and from a year ago that helped cushion the current account deficit.</p>.<p> In the financial account, foreign direct investment recorded a net inflow of $4.2 billion, more than double of net inflow of $2.0 billion in Q3 of 2022-23.</p>.<p> Foreign portfolio investment recorded a net inflow of $12.0 billion in the quarter, higher than $4.6 billion a year back.</p>.<p> External commercial borrowings to India recorded a net outflow of $2.6 billion in October-December as compared to a net outflow of $2.5 billion a year ago.</p>.<p> Non-resident deposits recorded a higher net inflow of $3.9 billion than $2.6 billion a year ago.</p>
<p> New Delhi: India's current account deficit declined to $10.5 billion or 1.2 per cent of the <a href="https://www.deccanherald.com/opinion/8-4-gdp-growth-look-under-the-hood-2921772#:~:text=India's%20GDP%20during%20the%20three,a%20row%20after%20the%20pandemic.">GDP</a> in October-December quarter from $11.4 billion in the previous three months and $16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday.</p>.<p> Net FDI inflow at $8.5 billion during April-December 2023 was lower than $21.6 billion during April-December 2022, it said.</p>.<p> Also, accretion of foreign exchange reserves (on a BoP basis) was at $6.0 billion in October-December (third quarter of current financial year that ends on March 31) compared to an accretion of $11.1 billion a year ago.</p>.RBI showing serious commitment to improve governance, transparency in finance firms, banks: S&P.<p> The merchandise trade deficit at $71.6 billion was marginally higher than $71.3 billion during the third quarter of 2022-23.</p>.<p> Services exports grew by 5.2 per cent on a year-on-year basis on the back of rising exports of software, business and travel services. Net services receipts increased both sequentially and from a year ago that helped cushion the current account deficit.</p>.<p> In the financial account, foreign direct investment recorded a net inflow of $4.2 billion, more than double of net inflow of $2.0 billion in Q3 of 2022-23.</p>.<p> Foreign portfolio investment recorded a net inflow of $12.0 billion in the quarter, higher than $4.6 billion a year back.</p>.<p> External commercial borrowings to India recorded a net outflow of $2.6 billion in October-December as compared to a net outflow of $2.5 billion a year ago.</p>.<p> Non-resident deposits recorded a higher net inflow of $3.9 billion than $2.6 billion a year ago.</p>