Read the following statements carefully:
Statement 1: Under the colonial rule, basic infrastructure (like railways, post and telegraph, etc.) was developed.
Statement 2: The real motive behind the infrastructural development in India was to strengthen the British interests.
In the light of the given statements, choose the correct alternative from the following:
Statement 1: Under colonial rule, infrastructure like railways, ports, and postal systems was developed. This is historically accurate.
Statement 2: The primary goal of this development was to serve British economic and administrative interests, such as transporting raw materials and military goods efficiently, rather than benefitting the Indian population.
During the British rule, India’s foreign trade had various features except _________ .
Read the following text carefully from ‘The Economic Times’ dated 8th June, 2023:
{“The Reserve Bank of India’s (RBI’s) rate-setting panel unanimously decided to keep the benchmark lending rate unchanged at 6.5%. The committee voted to remain focused on the withdrawal of accommodative monetary policy.”}
On the basis of the given text and common understanding, answer the following questions: (a) Identify and discuss the economic issue indicated in the above text.