CURRENT AFFAIRS

Detailed explanation-1: -For the first half of 2022-23, the current account deficit is $54.5 billion, more than 15 times higher than the $3.1 billion recorded in the first six months of 2021-22. As a percentage of GDP, India’s July-September CAD is 4.4 percent as against 2.2 percent in April-June and 1.3 percent in July-September 2021.

Detailed explanation-2: -India Current Account deficit accounted for 4.4 % of the country’s Nominal GDP in Sep 2022, compared with a 2.2 % deficit in the previous quarter. India Current Account Balance: % of Nominal GDP data is updated quarterly, available from Jun 2004 to Sep 2022, with an average value of-1.6 %.

Detailed explanation-3: -What Is a Current Account Deficit? The current account deficit is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.

Detailed explanation-4: -The current account measures the flow of goods, services and investments into and out of the country. The country runs into a deficit if the value of goods and services we import exceeds the value of those we export.