The balance of payments of a country is a systematic record of

[UPSC Civil Services Exam – 2013 Prelims]

(a) All import and export transactions of a country during a given period of time, normally a year

(b) Goods exported from a country during a year

(c) Economic transaction between the government of one country to another

(d) Capital movements from one country to another


Answer: (a)        

Explanation:

  • The balance of payments (BOP) of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year).
    • Balance of Payment (BoP) of a country can be defined as a systematic statement of all economic transactions of a country with the rest of the world during a specific period usually one year.
    • It indicates whether the country has a surplus or a deficit in trade.
      • When exports exceed imports, there is a trade surplus and when imports exceed exports there is a trade deficit.
    • Hence option 1 is correct.

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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