UPSC 2003 › Indian Economy › International Trade & WTO

3 questions · 2003 · answers as per the UPSC key

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UPSC 2003 · Q59 · Indian Economy › International Trade & WTO · Save

Consider the following statements

  1. India’s import of crude and petroleum product during the year 2001-02 accounted for about 27% of India’s total imports.
  2. During the year 2001-02, India’s exports had increased by 10% as compared to the previous year

Which of these statements is/are correct?

(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (a) Only 1
UPSC 2003 · Q104 · Indian Economy › International Trade & WTO · Save

Assertion (A): The new EXIM Policy is liberal, market-oriented and favours global trade.

Reason (R): GATT has played a significant role in the liberalisation of economy.

(a) Both A and R are individually true and R is the correct explanation of A
(b) Both A and R are individually true but R is NOT the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true
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Answer: (c) A is true but R is false
UPSC 2003 · Q143 · Indian Economy › International Trade & WTO · Save

Among the following commodities imported by India during the year 2001-02, which one was the highest in terms of Rupee value?

(a) Edible oil
(b) Fertilizers
(c) Organic and inorganic chemicals
(d) Pearls, precious and semi-precious stones
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Answer: (a) Edible oil