The government 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 organized by Confederation of Indian Industry (CII).
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