Statement-I: For the first time, India had no trade deficit in the year 2002- 2003. Statement- II: For the first time, India’s exports crossed worth $ 50 billion in the year 2002-03.

Asked in UPPCS Prelims 2004 · Topic: Trade Balance and Trade Deficit/Surplus (Historical Trends and Composition of India's Trade Balance (Goods and Services))

1. Both A and R are individually true and R is the correct explanation of A
2. Both A and R are individually true but R is not the correct explanation of A
3. A is true but R is false
4. A is false but R is true

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