Q. Consider the following statements:
1.India is the largest importer of gold.
2.India’s official gold imports has risen in the Fiscal Year 2022-23.
3.There has been a sharp increase in the smuggling of gold in the recent years.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: C
Notes:

Explanation –

Statement 1 and 3 are correct. India is the largest importer of gold. There has been a sharp increase in the smuggling of gold in the recent years.

Statement 2 is incorrect. India’s official gold imports fell around 24% to $35 billion in 2022-23 due to the government raising import duties on gold and the rupee turned weaker.

Source: ForumIAS

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