Explain the meaning of deficit in balance of payments.
CBSE DELHI - SET 1 2010
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When autonomous foreign exchange payments exceed autonomous foreign exchange receipts, the difference is called balance of payments deficit.
Autonomous transactions in foreign exchange are those which are undertaken for their own sake and independent of the state of balance of payments.
Autonomous transactions in foreign exchange are those which are undertaken for their own sake and independent of the state of balance of payments.
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