Q225. Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Assertion (A) : An important policy instrument of economic lib-eralization is reduction in import duties on capital goods. Reason (R) : Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets. In the context of the above two statements, which one of the fol-lowing is correct?

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

Assertion (A) : Devaluation of a currency may promote export. Reason (R): Price of the country’s products in the international market may fall due to devaluatio

Assertion (A) : The rate of growth of India’s exports has shown an appreciable increase after 1991. Reason (R) : The Govt. of India has resorted to devaluation.

Assertion (A): India’s software exports increased at an average growth rate of 50% since 1995-96. Reason (R) : Indian software companies were cost-effective and

Assertion (A): Information technology is fast becoming a very important field of activity in India. Reason (R) : Software is one of the major exports of the cou

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R): Assertion (A) : Though India’s national income has gone up s

Assertion (A): Information technology is fast becoming a very important field of activity in India. Reason (R): Software is one of the major exports of the coun

Assertion (A) : India does not export natural rubber. Reason (R) : About 97% of India’s demand for natural rubber is met from domestic production.

Assertion (A) : Ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000. Reason (R) : There was a fall in forei

Assertion (A) : Fiscal deficit is greater than budgetary deficit. Reason (R) : Fiscal deficit is the borrowing from the Reserve Bank of India plus other liabili

Assertion (A) : Balance of Payments represents a better Picture of a country’s economic transactions with the rest of the world than the Balance of Trade. Reaso

Consider the following: Assertion (A) : During the year 2001-02, the value of India’s total exports declined, registering a negative growth of 2.17 %. Reason (R

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Assertion (A) : The emergence of economic globalism does not

Consider the following Assertion (A): For the first time, India had no trade deficit in the year 2002-03. Reason (R): For the first time, India’s exports crosse

Assertion (A) : The United States of America has threatened to ask the World Trade Organisation (WTO) to apply sanctions against the developing countries for th

Assertion (A) : Chile continues to be an important producer of copper in the world. Reason (R) : Chile is endowed with the world’s largest deposit of porphyry c

Consider the following statements: Assertion (A): The basic weakness of the early nationalist movement lay in its narrow social base. Reason (R): It was fought

Which one of the following situations best reflects “Indirect Transfers” often talked about in media recently with reference to India?

Consider the following items: 1. Cereal grains hulled 2. Chicken eggs cooked 3. Fish processed and canned 4. Newspapers containing advertising materia

What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’? 1. It will replace multiple taxes collected by multiple authori

Under which of the following circumstances may ‘capital gains’ arise? 1. When there is an increase in sales of product 2. When there is a natural incr

Which one of the following is not a feature of “Value Added Tax”? (a) It is a multi-point destination-based system of taxation (b) It is a tax levied

In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?

Consider the following: 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax Which of the above is/are Direct Tax/Taxes?

Which of the following is not a recommendation of the task force on direct taxes under the chairm-anship of Dr. Vijay L. Kelkar in the year 2002?