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Consider the following statements: During the year 2004, India’s foreign exchange reserves did not exceed the 125 billion U.S. Dollar mark; The series of index numbers of wholesale prices introduced from April, 2000 has the year 1993-94 as base year. Which of the statements given above is/are correct

Consider the following statements: During the year 2004, India’s foreign exchange reserves did not exceed the 125 billion U.S. Dollar mark; The series of index numbers of wholesale prices introduced from April, 2000 has the year 1993-94 as base year. Which of the statements given above is/are correct?

(a)

1 only

(b)

2 only

(c)

Both 1 and 2

(d)

Neither 1 nor 2

Answer:

(b)

Moderate

Explanation

Statement 2 is correct as 1993-94 was the base year.