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: Petroleum, Oil, and Lubricants (POL) account for the largest share in India’s import bill. 📚 Other Information: ▪️ India imports crude oil mainly from Middle East countries. ▪️ It constitutes over 25% of total imports. ▪️ High dependency makes Indian economy vulnerable to global oil prices.