2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which country did the current account slip into deficit in Q2, with the CAD now at 1.3% of GDP?
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Iran
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Iraq
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India
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Israel
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Explanation:
Detailed explanation-1: -CAD, a key indicator of the external sector, had widened to 3.3 per cent of GDP in first half of 2022-23 from 0.2 per cent in the comparable period of 2021-22 on the back of a sharp increase in the merchandise trade deficit.
Detailed explanation-2: -The RBI said the Current Account Deficit (CAD) was USD 30.9 billion or 3.7 per cent of the GDP in Q2 of last financial year and at $22.2 billion or 2.7 per cent of the GDP in the December quarter of 2021-22.
Detailed explanation-3: -The RBI has released data showing that India’s current account deficit, an important measure of the balance of payments, has decreased to $18.2 billion, which is equivalent to 2.2% of the GDP.
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