Summary of current account for the first nine months of the fiscal year 2023/24 published by Nepal Rastra Bank is as follows: Summary of Current…

Summary of current account for the first nine months of the fiscal year 2023/24 published by Nepal Rastra Bank is as follows:

Summary of Current Account (Rs. in million)

Particulars	Credit	Debit
Good and services	Rs 440,000	Rs 2,800,000
Goods	305,000	2,500,000
Services	135,000	300,000
Primary income	65,500	31,250
Secondary income	1,410,000	9,675

Based on the information contained in the summary of current account, you are required to answer the following questions:

a. What do you mean by balance of payment and balance of trade?

b. What is the net of goods and services account during the given period of fiscal years?

 c. What is the net of primary income account and secondary income account during the given period of fiscal year?

 d. Which accounts have contributed to increase the current account deficit? Explain.

e. Which accounts have contributed to decrease the current account deficit? Explain.

f. What is the trade deficit or surplus during the first nine months of given fiscal year? What does it mean?