India had a current account surplus for there successive years _____.

2000-2003

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2001-2004

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2002-2005

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2003-2003

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Solution

The correct option is C 2001-2004
The year 2004-05 marked a significant departure in the structural composition of India’s balance of payments (BOP), with the current account, after three consecutive years of surplus, turning into a deficit. In a significant transformation, the current account deficit, observed for 24 years since 1977-78, had started shrinking from 1999-00. The contraction gave way to a surplus in 2001- 02, which continued until 2003-04.

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