Question
Consider the following statements: I.
India’ s overall ( merchandise plus services) exports increased from USD 52. 8 billion in June 2021 to USD 64. 9 billion in June 2022. II. The overall ( merchandise plus services) imports increased from USD 52. 9 billion in June 2021 to USD 82. 4 billion in June 2022. III. To boost the exports Foreign Trade Policy ( 2015- 20) was extended upto 30- 09- 2022. Which statement/ statements is/ are incorrect?Solution
• India’ s overall ( merchandise plus services) exports increased from USD 52. 8 billion in June 2021 to USD 64. 9 billion in June 2022. • India’ s overall ( merchandise plus services) imports increased from USD 52. 9 billion in June 2021 to USD 82. 4 billion in June 2022. • Government took following measures to boost exports: Ø Foreign Trade Policy ( 2015 - 20 ) extended upto 30 - 09 - 2022 . Ø Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme ( TIES ) and Market Access Initiatives ( MAI ) Scheme . Ø Rebate of State and Central Levies and Taxes ( RoSCTL ) Scheme to promote labour oriented textile export have been implemented since 07 . 03 . 2019 . Ø Remission of Duties and Taxes on Exported Products ( RoDTEP ) scheme has been implemented since 01 . 01 . 2021 .
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