Civil Services WBCS (Executive) Prelims + Mains Mock Tests 2025 Current Affairs Business and Economy
Consider the following statements regarding India's insurance sector in Financial Year 2024:
Statement I: Total insurance premiums in India witnessed a 7.7% growth in 2024, reflecting steady expansion in the sector.
Statement II: Insurance penetration doubled in 2024 from the previous year due to initiatives like Bima Trinity.
Which one of the following is correct in respect of the above statements?
1
Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
2
Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
3
Statement I is correct, but Statement II is incorrect.
4
Statement I is incorrect, but Statement II is correct.