Which statement is incorrect regarding India's balance of payment?I. 1994-95 was the year of the acute BOP crisis in India.II. India then had foreign exchange reserve of mere 3 billion dollarIII. This crisis led to the massive changes in the country's economic policy, popularly known as the Structural Adjustment Program or New Economic Policy (NEP) regime, focusing on liberalization and global ization of the economy.

Which statement is incorrect regarding India's balance of payment?I. 1

1.	Which statement is incorrect regarding India's balance of payment?I. 1994-95 was the year of the acute BOP crisis in India.II. India then had foreign exchange reserve of mere 3 billion dollarIII. This crisis led to the massive changes in the country's economic policy, popularly known as the Structural Adjustment Program or New Economic Policy (NEP) regime, focusing on liberalization and global ization of the economy.
A.	I & III
B.	I & II
C.	Only III
D.	Only I
Answer» C. Only III