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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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