ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Export of food grain
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import of crude oil
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banking services provided in other countries
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import of steel by steel industry
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Detailed explanation-1: -Short-term commercial borrowings are not included in the current account of the Balance of Payment(BoP) in India. Was this answer helpful?
Detailed explanation-2: -Note: Changes in the foreign exchange reserves are not included in the current account of the BoP. The foreign exchange reserves are the financial assets of the government, held in the central bank. A change in reserves serves as the financing item in India’s BOP.
Detailed explanation-3: -Current Account of Balance of payments does not include Investments.
Detailed explanation-4: -The balance of payments summarises all the financial transactions made between the residents of a country and the rest of the world over a certain period. The balance of payments has three components: the current account, the capital account, and the financial account.