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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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