The Impact of POL Product Import on India’s CAD

Sultan Ahmad

Abstract


Economy is like a human body mind is the government policies heart is people back bone is like primary sector hands are services sector and leg are the manufacturing sector and each of the parts has equal important in the economy and when all the parts works well than with the help of these potentiality the economy move for foreign trade. Foreign trade is a very important economic activity of any economy its shows the potentiality and power of the economy in the world. Foreign trade not only provide the foreign earnings and relationships to other country but also responsible to generate and increase the level of employment in the economy and to boost the manufacturing activity in the economy. India is the emerging economy in the world and due to their vital characteristics most of the developed country are looking and wants to trade relationships with India. After the liberalisations the foreign trade of India has recorded a very high growth rate but it has also some negative outcomes the serious problem is that India is countenousily facing the problem of the current account deficit (CAD) data shows that in 1991 the current account of India was shows the surplus 165 rupee billion and in 2014 it was in deficit of rupees 1877.5 rupee billions. The imports of POL products are much effect the trade balance and current account of the country in 1991 the import of POL product was 131.27 rupee billion in 1991 and 8424.44 rupees billion in 2015 so it has recorded a very high growth rate due to the development of the country.


Keywords


CAD, POL products, development

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References


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