India's current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India said on Tuesday, the first quarterly surplus in 13 years.

The current account recorded a surplus of $600 million or 0.1% of Indian gross domestic product in the three months to March 2020 compared to a deficit of 0.7% in the same period a year ago, RBI data showed.

This represents the first time that India's quarterly current account, which measures the difference between the value of a country's imported and exported goods and services, has recorded a surplus since the January-March quarter of 2007.
#Indiacurrentaccount
In layman terms, current account of a nation means: Total Incoming - total outgoing money.

It’s primarily calculated from Total exports minus Total Imports, Services and FDI.

India is current account surplus means, we received more money from outside than what we sent out.

The RBI data also showed the current account deficit (CAD) for the October-December quarter of 2019/20 was revised to $2.6 billion or 0.4% of GDP from $1.4 billion earlier.

For the year as a whole the CAD narrowed to 0.9% of GDP versus 2.1% in 2018/19, the data showed.

"Net services receipts increased on the back of a rise in net earnings from computer, travel and financial services," the RBI said in a release.