AID10031: "Developing countries like India, is facing acute Current Account Deficit [CAD] due to low export and high import" – Assume that you have been appointed as Governor of RBI. Develop suitable strategies to reduce CAD.

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Question: "Developing countries like India, is facing acute Current Account Deficit [CAD] due to low export and high import" – Assume that you have been appointed as Governor of RBI. Develop suitable strategies to reduce CAD.