UPSC 2015 › Indian Economy › External Sector & Balance Of Payments

2 questions · 2015 · answers as per the UPSC key

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UPSC 2015 · Q34 · Indian Economy › External Sector & Balance Of Payments · Save

Convertibility of rupee implies

(a) being able to convert rupee notes into gold
(b) allowing the value of rupee to be fixed by market forces
(c) freely permitting the conversion of rupee to other currencies and vice versa
(d) developing an international market for currencies in India
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Answer: (c) freely permitting the conversion of rupee to other currencies and vice versa
UPSC 2015 · Q94 · Indian Economy › External Sector & Balance Of Payments · Save

The problem of international liquidity is related to the non-availability of

(a) goods and services
(b) gold and silver
(c) dollars and other hard currencies
(d) exportable surplus
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Answer: (c) dollars and other hard currencies