Read the passage and answer the question:
As the global demand for steel increases, Orissa, which has one of the largest reserves of untapped iron ore in the country, is being seen as an important investment destination. The State government hopes to cash in on this unprecedented demand for iron ore and has signed Memorandum of Understanding (MoU) with both international and domestic steel makers. The government believes that this would bring in necessary capital investment and proivde a lot of employment opportunities. The iron ore resources lie in some of the most underdeveloped and predominantly tribal districts of the state.
The state government of Orissa signed the Memorandum Of Understanding (MoU) with both international and domestic steel makers for which reason?
Answer & explanation
Correct answer: option 3
The correct answer is Option 3 - Both options, 1 and 2.
According to the passage, the Orissa government signed Memorandums of Understanding (MoUs) with steel makers because it believes this would bring in necessary capital investment and provide a lot of employment opportunities. Both reasons are explicitly mentioned in the passage.