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NEW DELHI: India's current account is likely to swing to surplus after 32 quarters of deficit in the January-March period, and will halve to 0.6 per cent of GDP in the next financial year starting April 1, says HSBC.
According to the global brokerage firm, of all the macro variables benefiting from lower oil prices, the current account balance is likely to gain the most.
"We are expecting to see a current account surplus in the January to March quarter after 32 consecutive quarters of deficit," HSBC economists Pranjul Bhandari and Prithviraj Srinivas said in a research note.
The deficit is likely to halve to 0.6 per cent of GDP in 2015-16 and remain at manageable levels the year after as the oil import bill is drastically reduced, they said.
Read more at:
India to have current account surplus this quarter: HSBC - The Economic Times
According to the global brokerage firm, of all the macro variables benefiting from lower oil prices, the current account balance is likely to gain the most.
"We are expecting to see a current account surplus in the January to March quarter after 32 consecutive quarters of deficit," HSBC economists Pranjul Bhandari and Prithviraj Srinivas said in a research note.
The deficit is likely to halve to 0.6 per cent of GDP in 2015-16 and remain at manageable levels the year after as the oil import bill is drastically reduced, they said.
Read more at:
India to have current account surplus this quarter: HSBC - The Economic Times
