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Assertion (A): For the first time, India had no trade deficit in the year 2002-03.

Assertion (A): For the first time, India had no trade deficit in the year 2002-03.
Reason (R): For the first time, India’s exports crossed worth $50 billion in the year 2002-03.

(a)

Both A and R are true, and R is the correct explanation of A.

(b)

Both A and R are true, but R is NOT the correct explanation of A.

(c)

A is true, but R is false.

(d)

A is false, but R is true.

Answer:

(a)

Moderate

Explanation

Exports and trade balance in 2002-03 contributed to no trade deficit. Hence, (A) is correct.