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Question

If India exports goods worth Rs.$$20$$ crores and imports goods worth Rs.$$30$$ crores, it will ________________.


A
have a surplus of Rs10 crores in balance of trade
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B
have a deficit of Rs10 crores in balance of trade
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C
have a deficit of Rs50 crores in balance of trade
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D
can't say
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Solution

The correct option is B have a deficit of Rs$$10$$ crores in balance of trade
BOT =  Export-Import i.e. Rs.20 - 30 = Rs. 10 crore deficit. When imports exceed exports then the balance is in deficit.
Hence, option B is correct.

Economics

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