logo

CuriousTab

CuriousTab

Discussion


Home Current Affairs Economy See What Others Are Saying!
  • Question
  • Under which provision did the U.S. revoke the duty free imports on 50 Indian products?


  • Options
  • A. Generalised Goods and Products System (GPS)
  • B. Goods and Services Tax (GST)
  • C. Generalised System of Preferences (GSP)
  • D. Goods and Preferred Supplies (GPS)

  • Correct Answer
  • Generalised System of Preferences (GSP) 

    Explanation
    The U.S. revoked duty-free concessions on the import of at least 50 Indian products, mostly from handloom and agriculture sectors. The revocation is to reflect the Trump administration's tough stand on trade-related issues with New Delhi. The Federal Register issued a notification, listing 90 products which were so far subject to duty-free provisions under the Generalised System of Preferences (GSP), an oldest and largest U.S. trade preference programme. The GSP is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary-countries. A count of these products indicated that at least 50 of them are from India. Notably, India is the largest beneficiary of the GSP.

  • More questions

    • 1. Where did India's first natural Ice Cafe located?

    • Options
    • A. Himchal Pradesh
    • B. J&K
    • C. Sikkim
    • D. Arunachal Pradesh
    • Discuss
    • 2. ISRO Launches PSLV C-45 Carrying EMISAT with how many Nano satellite?

    • Options
    • A. 28
    • B. 12
    • C. 25
    • D. 32
    • Discuss
    • 3. The book "An Unsuitable Boy" is the autobiography of which Indian personality?

    • Options
    • A. Twinkle Khanna
    • B. Rishi Kapoor
    • C. Rahul Bose
    • D. Karan Johar
    • Discuss
    • 4. The Union Government has launched RUSA portal to act as a one-stop for States' Higher Education Plans. What does 'RUSA' stands for?

    • Options
    • A. Rashtriya Uchchatar Shiksha Abhiyan
    • B. Rashtriya Uttam Shiksha Abhiyan
    • C. Rashtriya Unmukht Shiksha Abhiyan
    • D. Rashtriya Unnatsheel Shiksha Abhiyan
    • Discuss
    • 5. The Ministry of Finance has started which series on Twitter to educate general public about the budgetary process?

    • Options
    • A. Know Budgetary Process
    • B. Know Your Economy
    • C. Know Your Budget
    • D. Know Making of Budget
    • Discuss
    • 6. Name the city which is choosed by Facebook as base for WhatsApp Pay as the centre for rolling WhatsApp Pay globally.

    • Options
    • A. Dubai
    • B. New York
    • C. London
    • D. Berlin
    • Discuss
    • 7. Who won the Man Booker International Prize recently?

    • Options
    • A. Amos Klausner
    • B. Leah Rabin
    • C. David Grossman
    • D. Eliyahu M. Goldratt
    • Discuss
    • 8. What state CM launched Mukhyamantri Anchal Amrit Yojana for anganwadi children?

    • Options
    • A. Uttarakhand
    • B. Rajasthan
    • C. Gujarat
    • D. Uttar Pradesh
    • Discuss
    • 9. Name the country which has agreed to strengthen economic co-operation with India.

    • Options
    • A. Japan
    • B. US
    • C. Netherland
    • D. Russia
    • Discuss
    • 10. Name the country which won the Sultan Azlan Shah Cup 2019.

    • Options
    • A. Malaysia
    • B. India
    • C. South Korea
    • D. Canada
    • Discuss


    Comments

    There are no comments.

Enter a new Comment