New RBI Grade B Notification Out - 94 Vacancies - Prepare with Us!

    Register

    Question

    What was the primary reason for the reduction in India's current account deficit from USD 67 billion in 2022-23 to USD 23.2 billion in 2023-24?

    A Increase in remittances Correct Answer Incorrect Answer
    B Decrease in merchandise trade deficit Correct Answer Incorrect Answer
    C Increase in foreign direct investment Correct Answer Incorrect Answer
    D Decrease in service sector exports Correct Answer Incorrect Answer

    Solution

    The reduction in India's current account deficit was primarily due to a decrease in the merchandise trade deficit, increasing net services exports, and rising remittances

    Practice Next