Official Answer Key & Detailed Solution
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Correct Answer: Option (D) — A is false but R is true
Concept & Option Breakdown
Standard Reference Verified- Assertion (A) is false: In 2001-02, India's overall exports did not decline overall for the full fiscal year but recorded a marginal positive growth (or slight decline depending on US dollar vs Rupee accounting, but the specific figure of -2.17% was factually inaccurate as total exports in USD showed around 0.6% growth).
- Reason (R) is true: The global economic slowdown in 2001-02 resulted in negative growth in major export sectors such as textiles, iron and steel, coffee, and marine products.
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