The Balance of Payments (BoP) is a statement of all transactions made between entities in one country and the rest of the world over a specified period, typically a year. It is divided into the Current Account, Capital Account, and Financial Account (in modern classifications, Capital and Financial accounts are sometimes grouped or detailed differently).
The Current Account on the Balance of Payments in India is functionally classified into which two categories ?
Asked in KPSC KAS Prelims 2015 · Topic: Current Account and Capital Account (Current Account: Definition and Components)
Show answer
Answer: A. Merchandise and Invisibles
More External Sector of Economy questions
- The Indian rupee was made convertible into which of the following accounts since March 1994 ?
- Which of the following statements is correct with respect to the convertibility of Indian rupee?
- With reference to Balance of Payments, which of the following constitutes/constitute the Current Account? 1. Balance of trade 2. Foreign assets 3. Balance of invisibles 4. Special Drawing Rights Select the correct answer using the code given below.
- Which one of the following items is not included in the Current Account of Balance of Payments in India ?
- Consider the following statements: The Indian rupee is fully convertible I. in respect of Current Account of Balance of Payment. II. in respect of Capital Account of Balance of Payment. III. into gold. Which of these statements is/are correct?
- Assertion (A): Ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000. Reason (R): There was a fall in foreign currency assets also.
- The Rupee was made convertible on the current account of the balance of payments in
- Indian Rupee is fully convertible in
