WBCS.LIVE practice question

Which of the following accounts for the highest amount spent on Indian imports?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Capital Goods
  2. Gold and Silver
  3. Electronic Goods
  4. Petroleum, oil and lubricants

Correct answer and explanation

Correct answer: Petroleum, oil and lubricants

Explanation: āœ… Correct Answer: D) Petroleum, oil and lubricants šŸ“š Explanation: India spends more money on importing 'petroleum, oil, and lubricants' than any other product. This is because the country has to import over 80 percent of its crude oil. This expense is a major part of India's annual import bill and affects the entire economy. Reducing this cost through renewable energy is a primary goal for the government.