The correct answer is: C. Either I or II is implicit.
The statement says that railway trains are indispensable for people in the suburbs of Bombay to reach their places of work on time. This does not mean that railway trains are the only mode of transport available in the suburbs of Bombay, nor does it mean that only railway trains run punctually. It is possible that there are other modes of transport available, but they are not as reliable as railway trains. It is also possible that there are other modes of transport that are just as reliable as railway trains, but they are not as convenient.
Therefore, either assumption I or assumption II is implicit in the statement.