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Which one of the following is not correct in the context of balance of

June 1, 2025 by rawan239

Which one of the following is not correct in the context of balance of payments of India during 2013-2014?

India's exports were less than its imports

Trade balance was negative

Net invisibles were positive

Capital account balance was negative

This question was previously asked in

UPSC NDA-2 – 2015

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The correct answer is D) Capital account balance was negative. Based on official data for India’s balance of payments during the financial year 2013-2014, India had a significant trade deficit (exports were less than imports, leading to a negative trade balance). Net invisibles (services, transfers, income) were positive, helping to offset part of the trade deficit. Crucially, the capital account recorded a *surplus* (positive balance), driven by foreign investments and other capital inflows, which helped finance the current account deficit. Therefore, the statement that the Capital account balance was negative is incorrect.

In 2013-14, India experienced a current account deficit financed by a surplus in the capital account.

For 2013-14, India’s trade deficit was around $137.5 billion. Net invisibles surplus was around $93.4 billion, resulting in a current account deficit of $44.1 billion. The capital account surplus was around $48.0 billion, which covered the current account deficit and led to an overall increase in foreign exchange reserves.

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