1. Forex reserves of India slump on debt prepayment was the report in a section of the press recently. Which of the following is TRUE about the same ?
I. About 3 bn US $ are made available for the prepayment of various debts taken by different organisations in India.
II. The debt prepayment reduced the forex reserve of the country which at the end of February 2003 was merely a 40 bn US$.
III. Some people feel that government decision to allow prepayment of debt was not a wise decision as it has created the problem of the balance payment.
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