If India finds a substitute for oil then it can result in which of the following options? |
There would be a deficit in BoP account There would be a surplus in BoP account It will not effect the BoP account None of the above |
There would be a surplus in BoP account |
India's maximum imports are done for oil, if India is able to find a substitute for oil, its imports will reduce thus causing a positive shift in the balance of payment position. Due wo which surplus BoP may take place. |