Question

Consider the following statements:

A. Software and business services together constitute more than 60% of India’s total services exports.
B. The National Monetisation Pipeline (NMP) is based on the principle of ‘asset creation through monetisation’.
C. As per the BIS Triennial Central Bank Survey 2022, the INR accounted for more than 2% of the global forex turnover.

Options:

1. Only one statement is incorrect
2. Only two statements are incorrect
3. All three statements are incorrect
4. All statements are correct

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Answer 1

Answer: (2) Only two statements are incorrect

Explanation:

Let's analyze each statement:

A. Software and business services together constitute more than 60% of India’s total services exports.

• Correct. India's IT and business services are major components of the country's services exports, and they do constitute a significant share, often reported to be above 60%.

B. The National Monetisation Pipeline (NMP) is based on the principle of ‘asset creation through monetisation’.

• Incorrect. The National Monetisation Pipeline (NMP) is actually based on the principle of monetising existing public sector assets rather than creating new ones. The idea is to generate revenue from underutilized assets by leasing them out or engaging in other forms of monetization.

C. As per the BIS Triennial Central Bank Survey 2022, the INR accounted for more than 2% of the global forex turnover.

• Incorrect. The Indian Rupee (INR) does not account for more than 2% of the global forex turnover. The percentage share of the INR in global forex trading is much lower, typically under 2%.

Conclusion:

Statements B and C are incorrect, while statement A is correct. Therefore, the correct answer is (2) Only two statements are incorrect.