What are current transfers?
Is there a difference b/w transfer income and current transfers?
If yes, then tell the differences.

Dear student,


Current transfers are current account transactions in which a resident entity in one nation provides a nonresident entity with an economic value, such as a real resource or financial item, without receiving something of economic value in exchange examples old age pension, gifts etc

And Transfer income refers to the income received without rendering any productive service in return. transfer receipts are of two types-
current transfer and capital transfer

difference
-current transfer is the part of the transfer income. current transfer are generally regular in nature and transfer income are both regular and irregular in nature


Regards!!

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