RPT-India current a/c swings to deficit in June qtr-cbank
* June qtr current a/c deficit $5.8 billion
* Trade deficit widens to $26 bln, from $14.6 bln last qtr
* April-Aug fiscal deficit 1.823 trillion rupees (Updates with details, analyst quote, fiscal deficit, CPI)
MUMBAI, Sept 30 (Reuters) - India's current account swung to a deficit of $5.81 billion in the April-June quarter from a surplus of $4.75 billion in the previous quarter as the effects of the global slowdown triggered a sharp decline in exports.
The current account deficit was a revised $9.02 billion in the corresponding April-June quarter a year ago, the central bank said on Wednesday.
However, capital inflows through foreign direct and portfolio investments helped cover the deficit with a marginal surplus in the balance of payments.
The capital account surplus was $5.92 billion in the first quarter of 2009/10, compared with a negative balance of $4.45 billion in the last quarter, but lower than $11.3 billion a year ago.
The Reserve Bank of India (RBI) said the balance of payments surplus INBOP=ECI in April-June was $115 million, compared with a surplus of $300 million in the January-March quarter.
The balance of payments surplus was $2.24 billion in the quarter a year earlier.
"There has also been a substantial revival in net private capital inflows," said Rupa Rege Nitsure, chief economist at Bank of Baroda.
Net invisibles, which includes services exports and funds remitted by non-resident Indians, were in a surplus at $20.2 billion, lower than the corresponding period last year of $22.4 billion, but higher than the previous quarter's $19.3 billion.
The merchandise trade deficit INTRDQ=ECI widened sharply to $26 billion, from $14.6 billion in the last quarter, but narrowed from $31.4 billion in the corresponding quarter a year ago.
Exports fell to $38.8 billion, from $39.8 billion in the previous quarter and sharply lower than $49.1 billion in the corresponding quarter in 2008/09.
The total external debt INDEBT=ECI rose to $227.7 billion at the end of June from a revised $224 billion at the end of March, the central bank said on Wednesday.
In a separately released data, the government said fiscal deficit INFISC=ECI for April to August was 1.823 trillion rupees ($37.9 billion), or 45.5 percent of the full-year target.
The consumer price index rose 11.72 percent in August from a year earlier, marginally lower than July's annual rise of 11.89 percent, government data showed on Wednesday.
