New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    India has recently agreed to bring down the import duty

    on some fresh and processed food items to settle the dispute between New Delhi & Washington at WTO.Which of the following statements is true with respect to the given information- I. The import duty is going to be cut down to 5-10 percent on some fresh and processed food items. II. These fresh and processed food items include  frozen turkey, frozen duck, fresh/frozen/dried/processed blueberries, and cranberries. III. Currently, these items attract import duty of around 40-45 per cent.
    A Only I Correct Answer Incorrect Answer
    B Only I & II Correct Answer Incorrect Answer
    C Only II Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

      India has agreed to bring down the import duty to 5-10 per cent on some fresh and processed food items as part of a larger dispute settlement between New Delhi and Washington at the World Trade Organization (WTO).   The duties will be reduced on import of frozen turkey, frozen duck, fresh/frozen/dried/processed blueberries, and cranberries. Currently, these items attract import duty of around 30-45 per cent.

    Practice Next

    Relevant for Exams: