HISTORY
MISCELLENOUS QUESTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Better business sense of Indian traders
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Great demand for Indian luxury goods
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Import of gold by India in return for her exports
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Imports of coins by India
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Detailed explanation-1: -Balance of Trade in India averaged-3.32 USD Billion from 1957 until 2023, reaching an all time high of 0.79 USD Billion in June of 2020 and a record low of-30 USD Billion in July of 2022.
Detailed explanation-2: -India had a favourable balance of trade only in 1972-72 (Rs. 104 Crore) and 1976-77 (Rs. 68 crore) . These two financial years are the only two financial years in the history of Post independence India, in which we had a favorable trade balance.
Detailed explanation-3: -If the value of exports is more than the value of imports it is called favourable balance of trade. 1. If the value of imports is greater than the value of exports it is known as unfavourable balance of trade.
Detailed explanation-4: -Between 1957 and 2021, India’s Balance of Trade averaged-2.97 USD Billion, with a maximum of 0.79 USD Billion in June 2020 and a low of-22.91 USD Billion in November 2021.