CAD has seen a drop of USD 6.2 billion in Q1FY2015-2016

Q.  CAD has seen a drop in Q1FY2015-2016 to what value, according to the RBI?
- Published on 14 Sep 15

a. USD 6 billion
b. USD 6.1 billion
c. USD 6.2 billion
d. USD 6.3 billion

ANSWER: USD 6.2 billion
 
First quarter current account deficit has fallen to 1.2% of the nation’s GDP from USD 7.8 billion or 1.6% in Q1FY15. CAD was higher as against 1.3 billion or 0.2% in Q4FY15. RBI data released on 12th September 2015 shows POL basket dropped to USD 24 billion from 40 billion. A massive component of this is crude and fall in import value is due to global crude prices crash.

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