Services receipts flat at US $58.6 bn in April-June: RBI

India's receipts from invisible services remained almost flat at US $58.6 billion in the April-June quarter of current fiscal, while payments towards those activities rose by 13.8% to US $35.05 billion, RBI data showed on Monday. The term 'invisibles' means payments and receipts resulting from international trade in 'invisible' services rather than 'visible' goods. It comprises services sector, primary income and secondary income.

The RBI data on India's invisibles is in accordance IMF's Balance of Payments and International Investment Position Manual format for April-June of 2016-17. The invisibles' receipts from services in the first quarter of the current fiscal 2016-17 stood at US $39.53 billion, up 3.3% from a year ago.

The receipts from primary income, increased by 13.5% to US $3.77 billion. However, the secondary income receipts were down by 11.4% at US $15.30 billion. In the invisibles payments category, services payments from India were up by 15.8% to US $23.76 billion for the quarter ended June, 2016-17.

Invisibles payments from primary income sources also grew by 8.6% at US $9.97 billion. And that from secondary income, the invisibles payments increased by 19.4% to US $1.32 billion.