![India Reports CAD of 1.2% of GDP in FY22 on widening Trade Deficit India Reports CAD of 1.2% of GDP in FY22 on widening Trade Deficit](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhl61-RwzPv5VbegXZzsCqRlbM0fvUWKKYTmSQ-SzDjH6qel3X-puwFB31-dH1N4h74s1sC7v7Z5IsCjeDvufBBSyN64s18QNvnt7sM10T1vOAZ4xM67_j_L0K-Pb2aO3uCWZ6nq3t8UUhtxjKQubTKIp_PfzolyMtQZlJkk1T68al5-94boupWCJcu2w/w320-h199-rw/India%20Report.jpg)
- From January-March 2022 the CAD decreased on to $13.4 billion or 1.5% of GDP compared to $22.2 billion.
- In addition to that Balance of Payments, data suggested that goods imports stood at $618.6 billion in FY22 as compared to $398.5 billion the year ago.
- BoP of a country can be defined as a systematic statement of all economic transactions of a country with the rest of the world during a specific period, usually one year.
- A current account deficit occurs when the total value of goods and services a country imports exceeds the total value of goods and services it exports.
- According to an earlier report for 2021, High Oil Imports, and High Gold Imports are the major driving force, widening the CAD.
Question:
Q.1 According to recent RBI data current account deficit has widened to __________ percentage of GDP in 2021-22?a. 3.2%
b. 1.5%
c. 1.2%
d. 2.5%