The 'Merchandise Exports from India Scheme' was replaced by which scheme? MCQ with Answer and Explanation

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The 'Merchandise Exports from India Scheme' was replaced by which scheme?

A. EPCG

B. SEIS

C. RoDTEP

D. Advance Authorization

Answer: Option C

Solution (By JKSSB Mock Tests)

MEIS was replaced by the Remission of Duties and Taxes on Exported Products scheme.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the Indian industrial policy after 1991?

A. Liberalisation, delicensing and greater role for private sector

B. Complete nationalisation of industries

C. Expansion of the licence-permit raj

D. Restriction on foreign investment

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Correct Answer: Option A

Explanation:
The 1991 Industrial Policy emphasised liberalisation, abolition of industrial licensing for most industries, and encouragement of private and foreign investment.

This question belongs to: Economy GK Economy Set 1

Question #2

Human capital refers to:

A. financial assets of a country

B. physical machinery used in production

C. natural resources

D. the stock of skills, education and health embodied in workers

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Correct Answer: Option D

Explanation:
Human capital is the stock of skills, education and health embodied in workers that enhances productivity.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'South Asian Free Trade Area' agreement came into force in which year?

A. 2004

B. 1995

C. 2006

D. 2010

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Correct Answer: Option C

Explanation:
SAFTA came into force in 2006.

This question belongs to: Economy GK Economy Set 1

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