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7) What do you understand by Capital Account Convertibility (CAA)? There is a debate going on whether India should go for full CAA or for partial CAA. Examine the advantages and disadvantages of both full and partial CAA. Based on this examination, suggest whether India should go for full CAA or not.

Topic: Effects of liberalization on the economy

7) What do you understand by Capital Account Convertibility (CAA)? There is a debate going on whether India should go for full CAA or for partial CAA. Examine the advantages and disadvantages of both full and partial CAA. Based on this examination, suggest  whether India should go for full CAA or not. (200 Words)

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