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With reference to the trade deficit, consider the following statements:
1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.
2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
With reference to the trade deficit, consider the following statements...
India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier but 9.5% lower than the record $42.2 billion shipped out in March, official estimates released.
- The trade deficit, however, expanded to $20.07 billion from $18.5 billion in March, as imports grew at a faster 26.6% pace to $58.26 billion. Sequentially, goods imports declined 4.1% last month from March’s level.
- Gold imports fell by a sharp 73% year-on-year to just $1.7 billion, even as coal imports more than doubled to over $4.7 billion from $2 billion a year earlier.
- Petroleum imports comprising crude and products surged 81.2% to exceed $19.5 billion, and made up a third of the total imports in the month.
- India’s goods exports hit a record $420 billion in 2021-22, while imports also hit an all-time high of about $612 billion, leading to a $192 billion deficit in the last financial year.
- Although the non-oil trade deficit remained stable in April, there was a shift in its composition, with a plunge in gold imports being offset by a rise in non-oil, non-gold imports such as coal and chemicals, an unsavoury yet expected fallout of the higher commodity prices engendered by the Russia-Ukraine conflict.
- Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April, while rice exports fell 14.24%.
Hence both statements are correct.
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With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the trade deficit, consider the following statements:1. India exported merchandise estimated at $38.19 billion in April 2022, a 24.2% increase from a year earlier.2. Among India’s top 10 export commodities, gems and jewellery exports dipped by a marginal 2.1% in April 2022.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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