India may end the current fiscal with a record surplus of about USD 20 billion or 70 bps of the GDP, as imports continue to plunge due to the coronavirus-driven disruptions globally, says a report. The country has been perennially struggling with huge current account deficits.
The last time the country had a current account surplus was in the first quarter of 2006-07, again due to the cheaper crude, according to an analysis by Barclays on 19th May.
In fact, the Exim trade has been balancing through 2019 due to the worsening growth momentum.
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