Answer the question in maximum 200 words. This question carries 11 marks. [MPPSC 2021]
Write any five major causes that bring disequilibrium in the balance of payment. Describe those measures which are used in India to correct it.
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Answer the question in maximum 200 words. This question carries 11 marks. [MPPSC 2021]
Write any five major causes that bring disequilibrium in the balance of payment. Describe those measures which are used in India to correct it.
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Causes of Disequilibrium in Balance of Payment
Disequilibrium in the balance of payments (BOP) occurs when a country’s financial transactions with the rest of the world are not balanced. Here are five major causes:
1. Trade Imbalance
2. Inflation
3. Economic Recession
4. Changes in Exchange Rates
5. Political Instability
Measures to Correct Disequilibrium in India
To address these issues, India employs several measures:
1. Adjusting Interest Rates
2. Import Restrictions
3. Promoting Exports
4. Exchange Rate Management
5. Attracting Foreign Investment
By implementing these measures, India aims to achieve a more stable balance of payments and foster economic growth.