Question : The policy of import substitution serve which of the following objective?
Option 1: Savings of precious foreign exchange
Option 2: Achieving self-reliance
Option 3: Both A and B
Option 4: Neither A nor B.
Correct Answer: Both A and B
Solution : The policy of import substitution serve the following objective Savings of precious foreign exchange Achieving self-reliance Hence Option C is correct.
Question : Which of the following are part of foreign exchange reforms?
Option 1: Devaluation of Rupee
Option 2: Market determination of exchange rate
Question : It refers to a policy of replacement or substitution of imports by domestic production.
Option 1: Industrial policy
Option 2: Industrial licensing
Option 3: Foreign trade policy
Option 4: Import substitution
Question : Which of the following are part of trade and investment policy reforms?
Option 1: Removal of export duties
Option 2: Reduction of import duties
Option 4: Neither A nor B
Option 1: Removal of quantitative restrictions on exports and imports.
Option 2: Relaxation in import licensing system.
Question : It is a comprehensive package of policy measures which covers various issues connected with different industrial enterprises of the country.
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