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Q2 CURRENT ACCOUNT GAP STAYS FLAT AT $12.63 BILLION (as rise in portfolio inflows results in a surge in capital account surplus of $23.6 billion).

India Business Insight

| January 01, 2010 | COPYRIGHT 2001 Silverline Information Systems Pvt. Ltd. (Hide copyright information)Copyright

The latest balance of payments figures released by the Reserve Bank of India (RBI) shows that the current account deficit of India remained flat at $12.62 billion during Jul-Sep 2009 compared to $12.57 billion in Jul-Sep 2008. A rise in portfolio inflows resulted in a surge in capital account surplus of $23.6 billion ($7.1 billion), pushing the balance of payments position to a surplus of $9.4 billion (deficit of $4.7 billion).

Trade deficit was lower at $32.2 billion ($39.1 billion) and surplus arising …

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