Devaluation of Currency

The Currency devaluation is the deliberate reduction in the value of a country’s currency against another currency. It is used by monetary authorities when they need to improve the country’s trade balance by increasing exports if and when the trade ..

Indo-China Protocol for Export Of Indian Chilli Meal

After a meeting held between Commerce Secretary of both India and China, the two countries signed a protocol for exporting of Indian Chilli Meal from India to China. Key Highlights of Meeting The meeting was held between India’s Commerce Secretary ..

Month: Current Affairs - May, 2019

Inverted Duty Structure

Inverted duty structure is a situation where import duty on finished goods is low compared to the import duty on raw materials that are used in the production of such finished goods.  For example, suppose the tariff (import tax) on the ..

SSC-CGL 8th July 2012 (Evening Shift) Solution GK

1. The 2004-09 Foreign Trade Policy gave emphasis to [A]import substitution [B]increasing customs duty [C]export promotion [D]long term trade relations export promotion Show Answer 2. Markets fail when [A]they do not maximise the aggregate consumer and producer surplus [B]they maximise ..

What is Balance of Payments?

Balance of Payments (BOP) is a systematic and summary record of a country’s economic and financial transactions with the rest of the world, over a period of time, say one year. Structure of Balance of Payments The format of the balance ..