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In the question given below there are 2 statements marked as Assertion (A) and Reason (R). Choose the correct alternative from the following options. Assertion (A)- The financial sector in India is regulated by RBI. Reason (R)- One of the major aims of "Tax reforms" was to reduce the role of RBI from regulator to facilitator of financial sector. This means that the financial sector may be allowed to take decisions on many matters without consulting the RBI. |
Both (A) and (R) are true and (R) is the correct explanation. Both (A) and (R) are true but (R) is not the correct explanation of (A). (A) Is true but (R) is false. (A) Is false but (R) is true. |
(A) Is true but (R) is false. |
The correct answer is Option 3: (A) Is true but (R) is false. Assertion (A)- The financial sector in India is regulated by RBI. This is correct. Reason (R)- One of the major aims of "Tax reforms" was to reduce the role of RBI from regulator to facilitator of financial sector. This means that the financial sector may be allowed to take decisions on many matters without consulting the RBI. This is false. Tax reforms typically focus on restructuring tax policies and systems to improve efficiency, equity, and revenue generation, rather than specifically targeting the regulatory role of the RBI. The correct statement would be "One of the major aims of "Financial sector reforms reforms" (not Tax Reforms as mentioned in the assertion) was to reduce the role of RBI from regulator to facilitator of financial sector. This means that the financial sector may be allowed to take decisions on many matters without consulting the RBI. |
