CURRENT AFFAIRS

Detailed explanation-1: -India’s current account balance recorded a deficit of US$ 36.4 billion (4.4 per cent of GDP) in Q2:2022-23, up from US$ 18.2 billion (2.2 per cent of GDP) 1 in Q1:2022-23 and a deficit of US$ 9.7 billion (1.3 per cent of GDP) a year ago [i.e., Q2:2021-22] 2.

Detailed explanation-2: -The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $21.6 billion, or 9.1 percent, to $217.1 billion in the third quarter of 2022.

Detailed explanation-3: -What is the Current Account Balance of India, in the second quarter ended September 2021? Notes: India’s current account balance posted a deficit of $ 9.6 billion in the second quarter ended September 2021 (Q2Fy22). It forms 1.3 per cent of the country’s gross domestic product (GDP).

Detailed explanation-4: -The US current account deficit narrowed to $251.1 billion in Q2 2022, or equivalent to 4% of the GDP, following a record gap of $282.5 billion in Q1 and below forecasts of a $260.6 billion gap.