{"id":27161,"date":"2024-02-14T09:12:24","date_gmt":"2024-02-14T09:12:24","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=27161"},"modified":"2024-02-14T09:12:26","modified_gmt":"2024-02-14T09:12:26","slug":"upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/","title":{"rendered":"UPSC Mains &#8211; &#8220;Evaluate the impact of a persistent Current Account Deficit (CAD) on the macroeconomic stability of an economy. Discuss the measures that can be adopted by a country to manage and mitigate the adverse consequences of a high CAD.&#8221;"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/edukemy.com\/refer-and-earn\" target=\"_blank\" rel=\"noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1280\" height=\"300\" src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/09\/Attempt-our-Daily-Weekly-Current-Affairs-Quiz-now-10-1.png\" alt=\"\" class=\"wp-image-46428\" srcset=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/09\/Attempt-our-Daily-Weekly-Current-Affairs-Quiz-now-10-1.png 1280w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/09\/Attempt-our-Daily-Weekly-Current-Affairs-Quiz-now-10-1-1170x274.png 1170w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/09\/Attempt-our-Daily-Weekly-Current-Affairs-Quiz-now-10-1-585x137.png 585w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption><a href=\"https:\/\/edukemy.com\/refer-and-earn\" target=\"_blank\" rel=\"noopener\" title=\"\">Refer &amp; Earn NOW<\/a><\/figcaption><\/figure>\n\n\n\n<p>The CAD for the first half of 2022-23 was 3.3% of GDP, but the situation improved in Quarter 3: of 2022-23 due to lower commodity prices and moderated imports. A Current Account Deficit (CAD) arises when a country imports more than it exports. The Fiscal deficit represents the gap between government expenditure and receipts, reflecting the need for government borrowing to cover the shortfall.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><img decoding=\"async\" data-src=\"https:\/\/lh7-us.googleusercontent.com\/ywFGe82SSyvLLRryaUA_WQWjfrqdy2mgDEqxKlg0sfFSt-ZDgdUXtYQBycCrWhjEqYrVvCuWipD1OLVlovRoTAfPDLvYLvqQA_0F5xy26KOmhzbGxWG9GPXDMhGcKcdYsZDB2jQlRXdnhfWRQRQISHA\" width=\"374\" height=\"176\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" style=\"--smush-placeholder-width: 374px; --smush-placeholder-aspect-ratio: 374\/176;\"><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69d46fbc69772\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d46fbc69772\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Body\" title=\"Body:\">Body:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Causes_of_the_current_account_deficits\" title=\"Causes of the current account deficits:\">Causes of the current account deficits:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#The_impact_of_a_persistent_Current_Account_Deficit_CAD_on_the_macroeconomic_stability_of_an_economy\" title=\"The impact of a persistent Current Account Deficit (CAD) on the macroeconomic stability of an economy:\">The impact of a persistent Current Account Deficit (CAD) on the macroeconomic stability of an economy:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Policy_Measures_to_Manage_CAD\" title=\"Policy Measures to Manage CAD:\">Policy Measures to Manage CAD:<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#A_Fiscal_Policy_Measures\" title=\"A. Fiscal Policy Measures:\">A. Fiscal Policy Measures:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Government_Spending_Adjustments\" title=\"Government Spending Adjustments:\">Government Spending Adjustments:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Taxation_Adjustments\" title=\"Taxation Adjustments:\">Taxation Adjustments:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Trade_Policies\" title=\"Trade Policies:\">Trade Policies:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#B_Monetary_Policy_Measures\" title=\"B. Monetary Policy Measures:\">B. Monetary Policy Measures:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Interest_Rate_Policy\" title=\"Interest Rate Policy:\">Interest Rate Policy:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Reserve_Requirements\" title=\"Reserve Requirements:\">Reserve Requirements:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Open_Market_Operations\" title=\"Open Market Operations:\">Open Market Operations:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Forward_Guidance\" title=\"Forward Guidance:\">Forward Guidance:<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Conclusion\" title=\"Conclusion:\">Conclusion:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#In_case_you_still_have_your_doubts_contact_us_on_9811333901\" title=\"In case you still have your doubts, contact us on 9811333901.&nbsp;\">In case you still have your doubts, contact us on 9811333901.&nbsp;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/edukemy.com\/blog\/upsc-mains-evaluate-the-impact-of-a-persistent-current-account-deficit-cad-on-the-macroeconomic-stability-of-an-economy-discuss-the-measures-that-can-be-adopted-by-a-country-to-manage-and-mitig\/#Visit_our_YouTube_Channel_%E2%80%93_here\" title=\"Visit our YouTube Channel \u2013&nbsp;here\">Visit our YouTube Channel \u2013&nbsp;here<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Body\"><\/span>Body: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Causes_of_the_current_account_deficits\"><\/span>Causes of the current account deficits:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-text-align-center\"><img decoding=\"async\" data-src=\"https:\/\/lh7-us.googleusercontent.com\/Q1tDp_9e2u_gBxcedlrU0tiu_FnyAlKHtiNgIFd2C2Nb_o7ljug9pDpXqcr8Jx2I-NVf-2HgSzn78OkPHu_cgdxpWTXqX8jWkMD9Ify4Fe2U4z8Hr7iYOuV0fJX6a4C__Iy4h1el_zYxGnIn67bT8AY\" width=\"413\" height=\"250\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" style=\"--smush-placeholder-width: 413px; --smush-placeholder-aspect-ratio: 413\/250;\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_impact_of_a_persistent_Current_Account_Deficit_CAD_on_the_macroeconomic_stability_of_an_economy\"><\/span>The impact of a persistent Current Account Deficit (CAD) on the macroeconomic stability of an economy:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Exchange Rates: <\/strong>A chronic CAD can lead to currency depreciation, affecting the purchasing power of the domestic currency and potentially contributing to inflation.<\/li><li><strong>Inflation: <\/strong>CAD may result in higher import costs, leading to inflationary pressures. Increased demand for foreign goods can also contribute to rising prices within the economy.<\/li><li><strong>Interest Rates:<\/strong> Elevated interest rates can impact investment and consumption patterns within the domestic economy.<\/li><li><strong>External Debt:<\/strong> Accumulated external debt can increase the vulnerability of the economy to global economic downturns and financial crises.<\/li><li><strong>Economic Growth:<\/strong> While a moderate deficit can be normal in growing economies, a persistent and large CAD may signal economic imbalances and hinder sustainable growth.<\/li><li><strong>Trade Balance:<\/strong> A persistent CAD reflects a long-term imbalance between a country&#8217;s imports and exports, potentially affecting the overall trade balance and the competitiveness of domestic industries.<\/li><li><strong>Global Economic Conditions:<\/strong> External shocks, such as changes in global demand or commodity prices, can exacerbate the challenges associated with a persistent deficit.<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Policy_Measures_to_Manage_CAD\"><\/span>Policy Measures to Manage CAD:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_Fiscal_Policy_Measures\"><\/span> A. Fiscal Policy Measures:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Government_Spending_Adjustments\"><\/span>Government Spending Adjustments:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Reduction in Non-Essential Spending: <\/strong>Cut non-essential expenditures, reviewing and potentially reducing budgets for projects not crucial for economic growth or social welfare.<\/li><li><strong>Prioritizing Infrastructure Investment:<\/strong> Focus on infrastructure projects that enhance productivity and contribute to long-term economic growth.<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Taxation_Adjustments\"><\/span>Taxation Adjustments:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Increase in Taxes: <\/strong>Consider raising taxes on luxury goods and non-essential items to reduce consumer spending.<\/li><li><strong>Targeted Tax Incentives: <\/strong>Provide targeted tax incentives for export-oriented industries to stimulate production and improve the current account balance.<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trade_Policies\"><\/span>Trade Policies:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Tariff and Non-Tariff Barriers: <\/strong>Use tariffs and non-tariff barriers to influence the balance of trade.<\/li><li><strong>Trade Agreements: <\/strong>Negotiate and enter trade agreements to facilitate exports and reduce barriers in foreign markets.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"B_Monetary_Policy_Measures\"><\/span>B. Monetary Policy Measures:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interest_Rate_Policy\"><\/span>Interest Rate Policy:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Interest Rate Hikes:<\/strong> Raise interest rates to make borrowing more expensive, reducing consumer spending and attracting foreign capital.<\/li><li><strong>Currency Interventions: <\/strong>Directly intervene in currency markets to stabilize or influence the exchange rate.<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reserve_Requirements\"><\/span>Reserve Requirements:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Adjustment of Reserve Ratios:<\/strong> Modify reserve requirements for commercial banks to reduce the amount of money available for lending, dampening domestic demand.<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Open_Market_Operations\"><\/span>Open Market Operations:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Sale or Purchase of Government Securities: <\/strong>Conduct open market operations by buying or selling government securities to control inflation and reduce imports.<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Forward_Guidance\"><\/span>Forward Guidance:<span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Communication Strategies: Use forward guidance to communicate policy intentions, influencing expectations, and guiding behavior for stability in currency markets.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Hence, a persistent Current Account Deficit (CAD) can strain macroeconomic stability by increasing external debt, currency depreciation, and vulnerability to external shocks. It may signal an unsustainable imbalance in trade, requiring a strategic mix of fiscal, monetary, and structural measures to restore equilibrium, promote exports, and ensure long-term economic resilience.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/edukemy.com\/free-resources-for-upsc?utm_source=Blog&amp;utm_medium=Banner&amp;utm_campaign=Resources\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"1280\" height=\"300\" data-src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/18.png\" alt=\"\" class=\"wp-image-42398 lazyload\" data-srcset=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/18.png 1280w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/18-1170x274.png 1170w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/18-585x137.png 585w\" data-sizes=\"(max-width: 1280px) 100vw, 1280px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1280px; --smush-placeholder-aspect-ratio: 1280\/300;\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"In_case_you_still_have_your_doubts_contact_us_on_9811333901\"><\/span><strong>In case you still have your doubts, contact us on 9811333901.<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For UPSC Prelims Resources,&nbsp;<a href=\"https:\/\/edukemy.com\/upsc-cse-prelims-resource-centre\" target=\"_blank\" rel=\"noreferrer noopener\">Click here<\/a><\/p>\n\n\n\n<p>For Daily Updates and Study Material:<\/p>\n\n\n\n<p>Join our Telegram Channel \u2013&nbsp;<a href=\"https:\/\/t.me\/WithEdukemy4IAS\" target=\"_blank\" rel=\"noreferrer noopener\">Edukemy for IAS<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>1. Learn through Videos \u2013&nbsp;<a href=\"https:\/\/bit.ly\/3vOD8sU\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>2. Be Exam Ready by Practicing Daily MCQs \u2013&nbsp;<a href=\"https:\/\/bit.ly\/3Q9z2nF\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>3. Daily Newsletter \u2013 Get all your Current Affairs Covered \u2013&nbsp;<a href=\"https:\/\/bit.ly\/3bE2y5J\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>4. Mains Answer Writing Practice \u2013&nbsp;<a href=\"https:\/\/bit.ly\/3mZuVxl\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Visit_our_YouTube_Channel_%E2%80%93_here\"><\/span>Visit our YouTube Channel \u2013&nbsp;<a href=\"https:\/\/www.youtube.com\/@ShabbirsEduKemyforIAS\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>The CAD for the first half of 2022-23 was 3.3% of GDP, but the situation improved in Quarter 3: of 2022-23 due to lower commodity prices and moderated imports.<\/p>\n","protected":false},"author":17,"featured_media":27159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1643],"tags":[232,515,230],"class_list":["post-27161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-upsc-mains","tag-upsc","tag-upsc-cse","tag-upsc-mains"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/27161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/comments?post=27161"}],"version-history":[{"count":1,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/27161\/revisions"}],"predecessor-version":[{"id":27162,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/27161\/revisions\/27162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/media\/27159"}],"wp:attachment":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/media?parent=27161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/categories?post=27161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/tags?post=27161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}