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Detailed explanation-1: -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-2: -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-3: -Current account balance (% of GDP) in India was reported at –1.0522 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources.

Detailed explanation-4: -India Current Account recorded a deficit of 36.4 USD bn in Sep 2022, compared with a deficit of 18.2 USD bn in the previous quarter. India Current Account Balance: USD mn data is updated quarterly, available from Jun 1949 to Sep 2022, with an averaged value of -344.4 USD mn.

Detailed explanation-5: -In the first half of 2022-23, there was a depletion of $25.8 billion from the foreign exchange reserves (on a BoP basis). The depletion of foreign exchange reserves was to the tune of $30.4 billion in July-September quarter of 2022-23 as against an accretion of $31.2 billion in the year-ago period.