There has been a steady rise in the import bill of petroleum products in India in recent decades. Which of the following is not a reason in this regard?

Both 1 and 2

The correct answer is option 3: Both 1 and 2

Statement 1: It is used by people in abundance for burning domestic and industrial wastes. — Not a correct reason. Petroleum products are primarily used as fuel for transportation, industries, electricity generation, and domestic purposes, not mainly for burning domestic and industrial wastes.

Statement 2: Sporadic price fall in the international market of oil prices. — Not a correct reason. India depends heavily on imports to meet its petroleum requirements. When international crude oil prices rise, the total import bill for petroleum products increases significantly. Since petroleum is an essential commodity used in transportation, industries, and energy production, imports continue despite higher prices. Therefore, rises in international oil prices contribute to the increasing value of petroleum imports in India, whereas a fall in prices would not be a reason for the increase in the import bill.

NCERT: There has been a steep rise in the import of petroleum products in the last decades. It is used not only as a fuel but also as an industrial raw material. It indicates the tempo of rising industrialisation and a better standard of living. Sporadic price rise in the international market is another reason for the same.