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Question

Identify the CORRECT statements:

A India generally runs a deficit in its current account Correct Answer Incorrect Answer
B India generally runs a deficit in its capital account Correct Answer Incorrect Answer
C Huge import of crude petroleum and gold is the major reason for India’s Current Account Deficit Correct Answer Incorrect Answer
D a and c Correct Answer Incorrect Answer
E b and c Correct Answer Incorrect Answer

Solution

India usually runs a Current Account Deficit. In 2016-17 CAD of India was $ 15.2 bn or 0.7% of GDP. Due to India’s excessive import dependence for crude petroleum oil and gold, India’s import bill is always much higher than the export bill. It causes a Current Account Deficit

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