Current Affairs - Economy - Discussion

Discussion :: Economy - Latest Current Affairs (Q.No.48)

48. 

How much percent of GDP has been increased for India's Current Account Deficit(CAD) in Fy19?

[A]. 2.3% of GDP
[B]. 2.5% of GDP
[C]. 2.1% of GDP
[D]. 2.7% of GDP

Answer: Option C

Explanation:

The Reserve Bank of India (RBI) stated that India's Current Account Deficit (CAD) increased to $57.2 billion or 2.1% of the Gross Domestic Product (GDP) in FY19 as against 1.8% of 2018 which stood at $48.7 billion. It was the highest in 6 years on due to higher trade deficit caused by high crude oil imports.An increase in trade deficit to $180.3 billion for the year as a whole as against $160 billion in 2018 led to the widening of the CAD in FY19.

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