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UPSC PYQPrelims 2020

Civil Services Examination · Question 52

With reference to the international trade of India at present, which of the following statements is/are correct? 1. India's merchandise exports are less than its merchandise imports. 2. India's imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years. 3. India's exports of services are more than its imports of services. 4. India suffers from an overall trade/current account deficit. Select the correct answer using the code given below:

  1. 1 and 2 only
  2. 2 and 4 only
  3. 3 only
  4. 1, 3 and 4 only
Show answer & explanation

Answer: (D) 1, 3 and 4 only

Explanation

India has a merchandise trade deficit, a services trade surplus and an overall current account deficit (at the time). Imports of iron and steel, chemicals, fertilisers and machinery had been rising, not falling.