India's current account deficit projected at $106bn: Acuite Ratings

India's current account deficit projected at $106bn: Acuite Ratings

Acuite Ratings estimates the Balance of Payments (BoP) deficit at $38 billion, down from $60 billion previously estimated

FPJ Web DeskUpdated: Monday, January 02, 2023, 01:09 PM IST
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India's current account deficit projected at $106bn: Acuite Ratings | Image credit: Acuite Ratings (Representative)

India's current account deficit was reduced by credit rating firm Acuite Ratings and Research to $106 billion in FY23.

Acuite Ratings stated in a report issued on Monday that it is lowering its previous prediction for the current account deficit from $130 billion to $106 billion.

Acuite Ratings estimates the Balance of Payments (BoP) deficit at $38 billion, down from $60 billion previously estimated.

According to the rating agency, the moderation in the monthly trade deficit and the softening of crude oil prices till now in Q3FY23 has made it to revise its earlier forecast as to current account deficit and BoP.

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