BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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105 billion dollar
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108 billion dollar
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110 billion dollar
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112 billion dollar
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Detailed explanation-1: -India’s current account deficit (CAD) narrowed sharply to US$ 7.8 billion (1.7 per cent of GDP) in Q1 of 2014-15 from US$ 21.8 billion (4.8 per cent of GDP) in Q1 of 2013-14. However, it was higher than US$ 1.2 billion (0.2 per cent of GDP) in Q4 of 2013-14.
Detailed explanation-2: -For the full fiscal year 2013/14 that ended March, India’s balance of payments stood at $15.5 billion, up from $3.8 billion in 2012/13. The current account deficit, which touched a record high of $87.8 billion in the 2012/13 fiscal year, eased to $32.4 billion in 2013/14 after a government crackdown on gold imports.
Detailed explanation-3: -However, trade deficit, the difference between imports and exports, jumped to $136 billion in 2013-14 from $6 billion in 1990-91, according to official data.
Detailed explanation-4: -India’s trade deficit with China in 2013-14 was $36.21 billion. In 2021-22, the trade deficit doubled and reached $73.31 billion.