The current account deficit or CAD for the Q1 2019, amounted to $14.3 billion, compared to $15.8 billion during the June 2018, quarter, according to RBI. The major contributor to the CAD has been higher services income and remittances by the Indian diaspora, which helped the CAD contract to 2% of the GDP from 2.3% in Q1 2018. The capital account, comprising foreign investment including foreign direct investment and portfolio flows, overseas borrowings and banking capital rose to $27.9 billion compared to $4.8 billion in June 2018.

For more, click here.