ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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if India export goods worth rs 20 crs and imports goods worth rs 30 crs.it will have a
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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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Explanation:
Detailed explanation-1: -BOT = export-Import i.e. 20−30=10 crore deficit.
Detailed explanation-2: -So, Imports = Exports-Balance of trade = 300−(−)400=Rs. 700 crores.
Detailed explanation-3: -India’s merchandise trade deficit dropped to a 12-month low of $17.7 billion in January, while the services trade surplus rose to an all-time high of $16.5 billion last month, government data released on Wednesday showed.
Detailed explanation-4: -Imports = Exports-Balance of Trade = 500-(-600) = 1, 100. Q.
Detailed explanation-5: -In fiscal year 2022, the estimated ratio of India’s total exports and imports of goods to the GDP stood at 33 percent.
There is 1 question to complete.