Economic and Social Development | Balance of Payment
Economic and Social Development | Balance of Payment
1. Which of the following statements is correct about the Balance of Trade of India?
India's trade balance remained negative for the entire period from 1949-50 to 2015-16
India's trade balance remained positive for the entire period from 1949-50 to 2015-16
India's trade balance remained negative for the entire period from 1949-50 to 2015-16 except two year 1972-73 and 1976-77, when it was positive
India's trade balance remained positive for the entire period from 1949-50 to 2015-16 except two year 1972-73 and 1976-77, when it was negative
Correct Answer
Wrong Answer
2. Balance of Payment on capital account includes
Balances of private direct investments
Private portfolio investments
Government loans to foreign governments
All of the above
Correct Answer
Wrong Answer
3. The term 'Balance of Payment' is used in relation to which of the following?
Annual sale of a factory
Tax collection
Export and Imports
None of the above
Correct Answer
Wrong Answer
4. What have been the reasons of deficit in India's Balance of Trade in the Past?
Very large rise in imports
Modest growth of exports
High cost and low quantity production
All of the above
Correct Answer
Wrong Answer
5. Balance of payment is defined as
the value of exports minus the value of imports
the difference between the liabilities and assets of a firm
the difference between current expenditure and current revenue in the government
complete record of all economic transaction between the residents of the country and rest of the world
Correct Answer
Wrong Answer
6. India export maximum leather to
U.S.A.
U.S.S.R.
England
W. Germany
Correct Answer
Wrong Answer
7. Which one of the following groups constitutes the largest item of Export from India?
Engineering Goods and Tea
Tea, Gems and Jewellery
Readymade Garments and Sugar
Readymade Garments, Gems and Jewellery
Correct Answer
Wrong Answer
8. Which among the following does not have 'free trade zone'?
Kandla
Mumbai
Vishakhapatnam
Thiruvananthapuram
Correct Answer
Wrong Answer
9. 'ECGC' is related to
Export promotion
Export financing and insurance
Export quality certification
Export statistics publication
Correct Answer
Wrong Answer
10. Which organisation promotes the foreign trade?
ECGC
MMTC
STC
All of the above
Correct Answer
Wrong Answer
11. Which one of the following institutions related to export financing and insurance?
ECGC
GAIL
CBDT
IDBI
Correct Answer
Wrong Answer
12. Invisible export means export of
Services
Prohibited goods
Unrecorded goods
Goods through smuggling
Correct Answer
Wrong Answer
13. Balance of payment includes
Visible Trade
Invisible Trade
Debts
All of the above
Correct Answer
Wrong Answer
14. A letter of credit has to be produced by
An exporter
An importer
Custom authorities
Shipping company
Correct Answer
Wrong Answer
15. Which one of the following set of commodities are exported to India by arid and semi-arid countries in the Middle East?
Raw Wool and Carpets
Fruits and Palm oil
Precious stones and Pearls
Perfume and Coffee
Correct Answer
Wrong Answer
16. Which one of the following countries is the largest trading partner of India?
U.S.A.
U.K.
France
China
Correct Answer
Wrong Answer
17. Among the following countries, which was the highest crude oil supplier to India during 2017-18?
Saudi Arabia
Iran
Iraq
Kuwait
Correct Answer
Wrong Answer
18. Which of the following commodities has highest export from India in 2017?
Agriculture and allied products
Engineering goods
Textiles
Chemicals
Correct Answer
Wrong Answer
19. Which of the following continued to be the major component of India's external credit till 2017?
NRI deposits
Short term debt
Trade Credit
Commercial borrowing
