India's balance of payments this year is going to be 'very very strong' on the back of significant improvement in ' exports and a fall in imports, as stated by Commerce and I Industry Minister Piyush Goyal. |
'We are in July at about 91% export level of July 2019 figures. Imports are still at about 70-71% level of July 2019. |
So, broadly, our balance of payments this year is going to be very, very strong, which is why we feel confident that |
Indian industry will see opportunities of themselves, will see opportunities of growth', he said. |
Country's trade turned surplus for the first time in 18 years as imports dropped by a steeper 47.59%. The country posted a trade surplus of $0.79 billion in June. It is because of government's efforts to support and promote domestic manufacturing and industry. |
Source: The Hindu, August 10, 2020 |
On the basis of above imaginary information, answer the following questions: |
When inflow of foreign currency is greater than the outflow of foreign currency, then there is a .............is balance of payments. |
A) surplus
B) above
C) outflow
D) inflow
Correct Answer: A
Solution :
[a] surplusYou need to login to perform this action.
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