Consider the following statements:
1. India’s Import of crude and petroleum products during the year 2001-02 accounted for about 27% of India’s total imports
2. During the year 2001-02, India’s exports had increased by 10% as compared to the previous year
Which of these statements is/are correct?
(a) Only 1 (b) Only 2 (c) Both 1 and 2 (d) Neither 1 nor 2