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Read the following statements carefully:
Statement 1: Export of financial services by India will be recorded on credit side of current account.
Statement2: Foreign Direct Investments in India will be recorded on credit side of capital account.
In the light of the given statements, choose the correct alternative:
- Statement 1 is true and statement 2 is false
- Statement 1 is false and statement 2 is true
- Both statements 1 and 2 are true
- Both statements 1 and 2 are false
Answer:
c. Both statements 1 and 2 are true
