However, net capital inflows comprising investment in stock, debt markets and foreign direct investments rebound during the period to US$6.7 billion from a negative trend in the previous two quarters. The current account deficit was however down from US$9 billion in the first quarter of last fiscal as there is surplus from services sector and remittances.
Exports declined to 38 billion dollars in the first quarter of this fiscal from $49 billion a year ago. Overall, India’s balance of payments which measures movement of money from rest of the world to India had a surplus of $115 billion in the first quarter against $2.2 billion a year ago.