Assertion (A) states that the ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000. Reason (R) states that there was a fall in foreign currency assets also.
Assertion (A): Ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000. Reason (R): There was a fall in foreign currency assets also.
Asked in UPPCS Prelims 2001 · Topic: Current Account and Capital Account (Current Account: Definition and Components)
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Answer: C. A is true, but R is false
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