Multiple choice

The import of which of the following has raised the Current Account Deficit of India by about 77%?

  1. Oil

  2. Gas

  3. Sugar

  4. Foodgrain

  5. None of these

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A Correct answer
Explanation

Oil imports are India's largest import expense, accounting for roughly 77% of the Current Account Deficit during the referenced period. India's heavy dependence on imported crude oil to meet its energy needs makes it the primary driver of trade deficits, as prices fluctuate in global markets.