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Consider the following statements:
Statement-I:
India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.
Statement-II:
India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.
Which one of the following is correct in respect of the above statements?
India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.
Statement-II:
India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:Statement-I:India's forex reserves ...
Statement-I correctly highlights the significant amount of India's forex reserves as of December 2022, underlining their importance in ensuring economic stability. The statement also accurately mentions that these reserves are sufficient to cover 93 months of imports, reflecting their critical role in safeguarding against external shocks and crises.
Statement-II provides an accurate representation of India's external debt situation in September 2022, detailing the total amount of external debt and its percentage relative to the GDP. By showcasing a prudent management approach post-reforms, this statement aligns with the data presented in the provided content.
Therefore, both statements are factually correct, and Statement-II explains the importance and implications of India's forex reserves highlighted in Statement-I. Hence, option (a) is the correct answer.
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Community Answer
Consider the following statements:Statement-I:India's forex reserves ...
Analysis of Statement-I
- As of December 2022, India's foreign exchange (forex) reserves stood at USD 562.7 billion.
- These reserves were sufficient to cover approximately 93 months of imports, highlighting their critical role in maintaining economic stability.
Analysis of Statement-II
- In September 2022, India's external debt was reported at USD 610.5 billion.
- This amount represented 19.2% of India's GDP, which indicates a significant yet manageable level of external debt.
- The figure reflects prudent management of the economy, especially considering the reforms post-1991 that aimed to liberalize and stabilize the Indian economy.
Connection Between the Statements
- Both statements are correct:
- Statement-I highlights the strength of India’s forex reserves, essential for import cover and economic stability.
- Statement-II provides context about the nation’s external debt and how it has been managed effectively, suggesting resilience in the economy.
- Statement-II does explain Statement-I in the broader context of economic stability, as sound external debt management complements robust forex reserves.
Conclusion
- Therefore, the correct answer is option 'A': Both Statement-I and Statement-II are correct, and Statement-II explains Statement-I. This relationship illustrates the interconnectedness of forex reserves and external debt management in ensuring overall economic stability in India.
- As of December 2022, India's foreign exchange (forex) reserves stood at USD 562.7 billion.
- These reserves were sufficient to cover approximately 93 months of imports, highlighting their critical role in maintaining economic stability.
Analysis of Statement-II
- In September 2022, India's external debt was reported at USD 610.5 billion.
- This amount represented 19.2% of India's GDP, which indicates a significant yet manageable level of external debt.
- The figure reflects prudent management of the economy, especially considering the reforms post-1991 that aimed to liberalize and stabilize the Indian economy.
Connection Between the Statements
- Both statements are correct:
- Statement-I highlights the strength of India’s forex reserves, essential for import cover and economic stability.
- Statement-II provides context about the nation’s external debt and how it has been managed effectively, suggesting resilience in the economy.
- Statement-II does explain Statement-I in the broader context of economic stability, as sound external debt management complements robust forex reserves.
Conclusion
- Therefore, the correct answer is option 'A': Both Statement-I and Statement-II are correct, and Statement-II explains Statement-I. This relationship illustrates the interconnectedness of forex reserves and external debt management in ensuring overall economic stability in India.
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Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?.
Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:India's forex reserves stood at USD 562.7 billion as of December 2022, covering 93 months of imports, indicating their critical role in ensuring economic stability.Statement-II:India's external debt in September 2022 totaled USD 610.5 billion, equivalent to 19.2% of its GDP, showcasing a prudent management approach post-reforms.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.
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