2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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0.4%
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0.6%
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0.9%
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0.11%
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Detailed explanation-1: -India’s current account balance recorded a deficit of US$ 23.9 billion (2.8 per cent of GDP) in Q1:2022-23, up from US$ 13.4 billion (1.5 per cent of GDP) in Q4:2021-22 1 and a surplus of US$ 6.6 billion (0.9 per cent of GDP) a year ago [i.e., Q1:2021-22].
Detailed explanation-2: -How is the Current Account Surplus of India calculated? Formula= (X-M) + NI +NT, Where, X = total Exports; M = total Imports; (X-M) = Net Exports; NI = Net Income from abroad; NT = Net current Transfers.
Detailed explanation-3: -The current account balance recorded a deficit of 1.2 per cent of GDP in 2021-22 as against a surplus of 0.9 per cent in 2020-21 as the trade deficit widened to US$ 189.5 billion from US$ 102.2 billion a year ago.
Detailed explanation-4: -India’s current account balance recorded a deficit of US$ 36.4 billion (4.4 per cent of GDP) in Q2:2022-23, up from US$ 18.2 billion (2.2 per cent of GDP) 1 in Q1:2022-23 and a deficit of US$ 9.7 billion (1.3 per cent of GDP) a year ago [i.e., Q2:2021-22] 2.