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?
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