A
Both 1 and 2
B
Neither 1 nor 2
C
1 only
D
2 only
Correct answer: (c) 1 only
Explanation
Statement 1 is correct as direct foreign exchange intervention alters net foreign exchange assets directly. Statement 2 is incorrect because oil marketing companies are state-owned or private enterprises engaged in refining, importing, and distributing petroleum products, and are not strictly managed solely as direct departmental units of the Ministry of Finance in that context.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.