Concept:India's foreign exchange reserves comprise foreign currency assets, gold, SDRs, and reserve position in the IMF. The correct factual status is based on official data from the Economic Survey.
Explanation:According to the Economic Survey, India's foreign exchange reserves increased to around USD 640.3 billion by the end of December 2024. This makes option A correct.
Option B is incorrect because India's forex reserves are the fourth largest in the world, not seventh. The top three are China, Japan, and Switzerland.
Option C is also incorrect. Reserves actually increased overall by about USD 68 billion in FY24. There is no confirmed Balance of Payments deficit of USD 24 billion causing a decrease.
Since only statement A is true, option D ("More than one of the above") is wrong.
Answer:Option A – Increased to around USD 640 billion as of the end of December 2024.