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    Question

    Consider the following statements regarding the April

    trade deficit in India: Statement 1: The trade deficit was primarily driven by a significant rise in oil and gold imports. Statement 2: Imports declined by 10.3% compared to the previous year. Statement 3: The total merchandise exports stood at $35 billion in April 2024. Which of the statements given above is/are correct?
    A 1 and 3 only Correct Answer Incorrect Answer
    B 1 and 2 only Correct Answer Incorrect Answer
    C 2 and 3 only Correct Answer Incorrect Answer
    D 3 only Correct Answer Incorrect Answer
    E 1, 2, and 3 Correct Answer Incorrect Answer

    Solution

    Statements 1 and 3 are correct. Statement 2 is incorrect as imports surged by 10.3%, they did not decline.

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