Consider the following statements : 1. India has no privately owned oil refineries. 2. India has no privately managed major seaports. Which of the statements given above is/are correct?

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Submitted by examrobotsa on

Q: 23 (IES/2011)
Consider the following statements :
1. India has no privately owned oil refineries.
2. India has no privately managed major seaports.
Which of the statements given above is/are correct?

question_subject: 

Economics

question_exam: 

IES

stats: 

0,38,20,7,5,8,38

keywords: 

{'major seaports': [0, 0, 0, 1], 'oil': [8, 3, 14, 21]}

The correct answer is option 4 - Neither 1 nor 2.

Statement 1 claims that India has no privately owned oil refineries. However, this statement is incorrect. India does have privately owned oil refineries in addition to those owned by the government. The private sector plays a significant role in the oil refining industry in India.

Statement 2 claims that India has no privately managed major seaports. Again, this statement is incorrect. India does have privately managed major seaports. Private players have entered the port sector in India through public-private partnerships (PPP) and are operating and managing several major seaports across the country.

Therefore, since both statements are incorrect, option 4 is the correct answer. It is important to note that private ownership and management do exist in both the oil refining and seaport sectors in India.

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