Consider the following statements:
Statement-I : The European Parliament approved The Net-Zero Industry Act recently.
Statement-II: The European Union intends to achieve carbon neutrality by 2040 and therefore aims to develop all of its own clean technology by that time.
Which one of the following is correct in respect of the above statements?
* Statement-I: Correct. The European Parliament indeed approved the Net-Zero Industry Act in March 2023. This act aims to scale up manufacturing of clean technologies within the EU. * Statement-II: Incorrect. The EU's target for achieving carbon neutrality is 2050, not 2040. Additionally, while the EU aims to bolster its own clean technology production, it doesn't necessarily aim to develop all of its own technology by 2050. Collaboration and some level of imports are likely to remain part of the strategy. Therefore, the correct option is (C): Statement-I is correct, but Statement-II is incorrect.