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UPSC 2003: Consider the following statements 1. India’s import of crude and petroleum product during the year 2001-02 accounted for about 27% of India’s total imports. 2. During the year 2001-02, India’s exports had increased by 10% as compared to the previous year Which of these statements is/are correct?
(a)Only 1
(b)Only 2
(c)Both 1 and 2
(d)Neither 1 nor 2
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Not attemptedCorrect Answer: (a) Only 1
In 2001-02 petroleum (crude + products) made up roughly 27 % of India’s total import bill, so statement 1 is true. India’s merchandise exports actually fell slightly (about 0 %) that year, not a 10 % rise; statement 2 is, therefore, incorrect. Hence only statement 1 is correct, making option (a) the right choice. ([licchavilyceum.com](https://licchavilyceum.com/upsc-civil-services-prelims-2003-solved-question-paper/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2003 Indian Economy question?▼
The correct answer is option (a): Only 1. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this International Trade & WTO question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2003, GS Paper 1, as Question 59. It falls under Indian Economy > International Trade & WTO.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from International Trade & WTO?▼
UPSC has asked 38 questions from International Trade & WTO (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.