Soft Corner of Tejas Lakhani

What is there in eighth plan that govt introduced a new feature that would grant stability to India’s foreign trade.

true/false
it was observed recent fabulous growth of s/w exports was due to

foreign trade broadens the outlook of a country.

Elsoworth, in his form of the definition of BOP has introduced the concept of National/Domestic/International/Foreign Resident account

convention adopted for determinin resident status while compiling india’s BOP is broadly consistent with recommendations of IMF manual.

true.

Foreign trade emphasizes the fact that  the growth and development of economy of any country is linked with world’s
political/social/economic climate/weather conditions

liaison office can carry on only liaison activities i.e.

Industrial imports were in second in line when it came to india’s import bill payments for the year 2005-06.
True

years which have recorded highest 3 declines in import values over the respective prev years in terms of US$ in millions..

81-82 84-85 91-92

EOU Scheme will allow import of capital goods for pre-production and post production facilities.

trade deficit from 91-92 to 95-96 rose by more than 5 times.

problems which confront the SAARC are:

 economics of the member countries are dissimilar
 coz of similarity of the exporting
duplicate of the softex form as submitted by the exporter to the bank is treated as same as the

EC Copy
 GR/FDS
GR/SDF
MOU
NEER-5 is composed of a basket of 5 currencies namely
US Dollar
Euro
Sterling Pound & Yen
Pound & Deutsch Mark

Conditions for Scheme for raising loans from NRIs on repatriation basis are
loan is free of interest
the minimum maturity period of the loan is seven years
the loan is utilized for the borrower’s personal purposes
loan is utilized for the borrower’s agricultural/plantation activities.

During 1991-92 exports to the GCA(General Currency Area) rose by
6.34%
5.50
4.34
6.25

If person stays abroad for more than 12 months, it implies duel citizenship, given the economy’s diplomatic and consular representatives.

true/false – false

To help decentrlztn process for the assessment of the variou sproject proposals in india, the IFC will

act as cataly st in bringin together ind and forgn companies
Third yearly import export policy, the government increased the limit for recognition of a trading house from rs. 15 crores to rs. 25 crores.

true

Under Exim Policy 2002-2007, BIFR Schemes were extended for the revival of the sick units.

True
Although IMF and World Bank were established the proposal for WTO did not materialize.

WTO
ITO
GATT
IBRD

Official capital includes transactions affecting foreign financial assets and liabilities of

govt. of india and rbi
rbi and world bank
rbi and govt. owned comm. banks
central and state govt. as authorized by central government

primary objective of GATT was to expand international trade in order to bring

abt economic dev of devlping countries
abt all-round consumer welfare
abt an all-round economic prosperity
an exposure to wider choice and range of products for the consumer

Under Direct Rates of quotation, Foreign Currency is fixed.
True

All remittances to the foreign collaborator shall be made as per the exchange rates prevailing on the
date of remittance
importing license
government consent letter
RBI consent letter

under scheme for export houses, certain weight age is given to certain categories of exports, provided that such exports

are made in freely convertible currency
are accountable on the capital acct of the BOP
are ” on the current acct of the BOP
help exceed the req level of foreign exchange for a particular financial year
GATT was formed in year

1945
46
48

Under exp-imp policy 2000-01 , it was laid down that the EPZs at these locations to be converted into SEZs

Kandla, vizag, kochi
cochin, coimbatore, chennai
khandala, cochin, goa
hyd, noida, ranchi

FTRA, 1992 empowers cent govt. to make provision

for dev & regu of foreign

to formulate and announce the imp exp policy from time to time.

origin of method of “Basic Balance’ & ‘Overall balance, lies in the report of the

1961 kennedy task force
1965 kennedy task force
1996 nixon tasking
1960 carter tasking

These countries come under Eastern Europe

Greece, Former RPA Countries,
‘automatic route’ in case of FDI in india is provided for in the Notification

No. FERA 20 dated 1-5-2001
No. FEMA 20 dated 10-6-2005
No. FEMA 10 dated 30-5-2005
No. Fema 20 dated 3-5-2000

switzerland
australia
south korea
UK

8th, 7th 10th, 3rd, 9th 5th ranking source of india’s imports