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?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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