Services receipts flat at $58.6 bn in Apr-Jun: RBI

The Dollar Business Bureau

India's receipts from 'invisible' services continue to remain flat at $58.6 billion in the first quarter of April-June in current financial, whereas the payments towards those activities increased by 13.8% to $35.05 billion, showed a data by the Reserve Bank of India (RBI) on Monday.

The term 'invisibles' refereed to the payments and receipts resulting from foreign trade in 'invisible' services compared to the 'visible' goods. It consists of services sector, secondary income and primary income.

The data by RBI on country’s invisibles is in line with the Balance of Payments and International Investment Position Manual format of International Monetary Fund (IMF) for the period of April-June 2016-17.

The receipts from services of invisibles in the given quarter of this fiscal of 2016-17 stood at $39.53 billion, an increase of 3.3% from a year ago.

The primary income receipts have gone up by 13.5% to $3.77 billion. However, the receipts from secondary income were declined by 11.4% at $15.30 billion.

In the category of invisibles payments, the services payments from the country were increased by 15.8% to $23.76 billion for the first quarter ended on June, 2016-17.

The invisibles’ payments from the sources of primary income have increased by 8.6% at $9.97 billion. From secondary income category, the invisibles payments grew by 19.4% to $1.32 billion.