India's foreign exchange reserves:
Detailed Explanation:
✅ Statement 1 – Correct: India's foreign exchange reserves increased to around USD 640.3 billion by the end of December 2024, as per the Economic Survey 2024-25.
❌ Statement 2 – Incorrect: India's forex reserves are the fourth largest in the world (after China, Japan, and Switzerland), not seventh.
❌ Statement 3 – Incorrect: Reserves actually increased by around USD 68 billion in FY24; there was no BoP deficit of USD 24 billion causing a decrease.
Answer: Only statement 1 is correct.
Question 1 of 9 Budget & Economic Survey
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