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Multiple Choice Questions

Statement Should India create a huge oil reserve like some Western countries to face difficult situa...........

Logical Reasoning (RBI Ast) Statement - Arguments

Statement: Should India create a huge oil reserve like some Western countries to face difficult situations in future?

Arguments:

No. There is no need to block huge amount of foreign exchange and keep the money idle.
Yes. This will help India withstand shocks of sudden rise in oil prices due to unforeseen circumstances.

Only argument I is strong

Only argument II is strong

Either I or II is strong

Neither I nor II is strong

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Explanation:

Oil, being an essential commodity, our country must keep it in reserve.
So, argument I is vague, while argument II holds as it provides a substantial reason for the same.

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