Original title: India’s First-Quarter Current Account Gap Narrows on Services
India’s current account gap narrowed in the fiscal first quarter, helped by an increase in service sector exports and larger than anticipated remittances. The deficit was at $2.4 billion Bloomberg Terminal in the April to June quarter as against $8.6 billion in the year ago period, the Reserve Bank of India said in a statement. The current account had a surplus of $13.5 billion in the previous quarter.