With reference to India's foreign trade data, consider the following statements:

Question

1. In six of the eight months between June 2022 and January 2023, India's goods exports have been revised upwards by more than $2 billion from the quick estimates released by the Commerce and Industry Ministry on the 15th of the subsequent month.
2. The scale of export revisions shot up between November 2022 and January 2023, averaging an upgrade of $3.1 billion or almost 10% of the quick estimates for the period.

 

How many statements given above are correct?

 

(a) 1 Only

(b) 2 Only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer 1

Answer: [Option c] Both 1 and 2 are correct.

 

Explanation: The passage states that India's goods exports have been revised upwards by more than $2 billion in six out of eight months between June 2022 and January 2023, and the scale of export revisions shot up between November 2022 and January 2023, averaging an upgrade of $3.1 billion or almost 10% of the quick estimates for the period. Therefore, both statements 1 and 2 are correct.