ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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surplus of rs10 crs in balance of trade
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deficit of rs10 crs in balance of trade
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deficit of rs50 crs in balance of trade
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none of above
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Detailed explanation-1: -Data: India’s Trade Deficit With China Was A Record High in 2021-22, Could Further Increase in 2022-23. Trade data available with the Ministry of Commerce & Industry indicates that India’s trade deficit with China was the highest in 2021-22 at more than $ 73 billion.
Detailed explanation-2: -India’s trade deficit with China stood at $101.02 billion, surging past the $100 billion mark for the first time. In 2021, the deficit was $69.38 billion.
Detailed explanation-3: -External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars. China trade balance for 2021 was $462.25B, a 30.16% increase from 2020.