Practicing Success
Practicing Success
CUET Preparation Today
In 1991, after the introduction of New Economic Policy, export duties were removed from the goods. According to you what was the reason for the same? |
Due to the agreements signed with WTO To create a balance between exports and imports To increase the competitive position of Indian goods in the international markets All of the above |
To increase the competitive position of Indian goods in the international markets |
The export duties were removed in order to increase the competitive position of Indian goods in the international markets. The reason behind removing the tariff on exports was to increase the flow of foreign exchange in the economy which would eventually result in improving the balance of payment position of the country. WTO was formed in 1995 only and has no role in 1991 policy reforms. |
