UPSC Essentials | Daily subject-wise quiz : Economy MCQs on Tariff Rate Quota, services exports in India and more (Week 185)
UPSC Essentials brings subject-wise quizzes to help revise static topics from the syllabus. This week's quiz covers Tariff Rate Quota and services exports in India.
Intelligence analysis by Qwen 2.5 (3B)
UPSC Essentials offers a daily subject-wise quiz to help candidates revise static topics from the syllabus. This week's quiz focuses on Tariff Rate Quota and services exports in India.
This quiz helps you check how much you know about Tariff Rate Quota and services exports in India. It's like a game to see if you remember the important stuff you need to know for your big test.
Analysis
Tariff Rate Quota (TRQ) in India
Understanding TRQ
TRQ is a mechanism that allows a set quantity of specific products to be imported. Goods under TRQ include apples, kiwi fruit, albumin, and Manuka honey. Statement 1 is not correct, and statement 2 is correct. Hence, option (b) is the correct answer.
Services Exports in India
Geopolitical Conflicts and Services Exports
India's services exports can be adversely affected by geopolitical conflicts that disrupt international travel and tourism. Rising energy prices can increase airfares and reduce demand for international travel and tourism, affecting services exports. Statement 1 and Statement 2 are correct, and Statement 2 is the correct explanation for Statement 1.
Key points
- TRQ allows a set quantity of specific products to be imported in India.
- Services exports in India can be affected by geopolitical conflicts and rising energy prices.
- India's goods exports increased by 23% in September, while services exports decreased slightly.
- The trade deal with New Zealand could boost India's economy by increasing exports and attracting foreign investment.
- Geopolitical conflicts can raise energy prices, affecting international travel and tourism, and thus services exports.
If the trade deal with New Zealand goes well, India's economy could benefit from increased exports and foreign investment.
If geopolitical conflicts disrupt travel and tourism, India's services exports could suffer.
