Key Points
Weakening of commodity prices, strong services exports and rising remittances by people working abroad likely pushed India's current account balance to surplus in the quarter ended March..
In that case, the country will be reporting current account surplus after a gap of six quarters, and experts are hopeful the gains will continue this quarter...
"India's external financing needs have shrunk dramatically in the past few quarters, helped by falling commodity prices, an expanding services trade surplus and rising remittances," said Rahul Bajoria, head of EM Asia (ex-China) economics research at Barclays, positing a surplus in the fourth quarter...
India Ratings and Research (Ind-Ra) has projected a current account surplus of $6 billion, or 0.7% of the gross domestic product (GDP), in the January-March quarter...
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