List-I List-II (a) Tariffication (i) They have demonstrably adverse effects on other member countries (b) Prohibited subsidies (ii) They act on goods which are contingent upon export performance (c) Actionable subsidies (iii) Replacement of existing non-tariff restrictions (d) Non-actionable subsidies (iv) For industrial research in disadvantaged regions

Reasoning (R): Goods imported to a free trade zone may be re-exported without any processing, in the same form. But, goods exported by units in an EPZ are expected to have undergone some value addition by manufacturing /processing. Code:  

List-I List-II (a) Tariff (i) A regulation specifying the proportion of a finished product’s components and labour that must be provided by importing country (b) Import Quota (ii) Tax imposed on product entering a country and used to protect domestic producers and/or raise revenue (c) Local-content Law (iii) A requirement that a product contain or […]

Reason (R): High rate of growth, ceteris paribus, is associated with rise in imports and increase in the imports, ceteris paribus, is associated with a fall in the relative price of imports. Code:  

Reason (R): The important way to reduce imports and thereby reduce deficit in balance of payments is to adopt monetary and fiscal policies that aims at reducing aggregate expenditure in the economy. Code:  

List-I List-II (a) Poverty Reduction and Growth Facility (PRGF) (i) 1997 (b) Supplemental Reserve Facility (SRF) (ii) 1974 (c) Extended Fund Facility (EFF) (iii) 1999

Statement (II): The Extended Fund Facility (EFF) was created in 1984 to help the developing countries over linger period upto 3 years. Code:  

(a) The product or the process is new one. (b) It contains an inventive step. (c) It is capable of industrial application for 15 years from the grant of the patent. (d) It is capable of industrial application for 20 years from the grant of the patent. Codes: