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प्रश्न
What is the meaning of quantitative restrictions?
उत्तर
Quantitative Restrictions (QRs) refer to the restrictions in the form of limits or quotas on the amount of commodities that can either be imported or exported. QRs usually on imports (refers to non-tariff measures) are imposed to discourage imports of foreign goods and to reduce Balance of Payment (BOP) deficits. The imposition of QRs provides impetus to the domestic firms to survive, grow and expand in a protective and lesser competitive environment.
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संबंधित प्रश्न
How is RBI controlling the commercial banks?
Distinguish between the following
Strategic and Minority sale
Why has the industrial sector performed poorly in the reform period?
Rate of which tax was reduced as per the tax reforms?
How many industries are entirely reserved for the public sector?
India’s post-1990 economic strategy entailed three important breaks with the past:
- To dismantle the vast network of controls and permits that dominated the economic system.
- To redefine the role of the state as a facilitator of economic transactions and as a neutral regulator rather than the primary provider of goods and services.
- To move away from a regime of import substitution and to integrate fully with the global trading system.
The 1991 reforms unleashed the energies of Indian entrepreneurs and gave untold choices to the consumers and changed the face of the Indian economy. The reform agenda constituted a paradigm shift and has defined the broad contours of economic policymaking for three decades.
Liberalization was adopted as the guiding principle of governance and all governments since 1991, have broadly stuck to that path.
Today we don’t need a paradigm shift. We need to look at individual sectors and see which one of these needs, reforms to create a competitive environment and improve efficiency. The power sector, the financial system, governance structures, and even agricultural marketing need reforms.
Today’s reforms also require much more discussion and consensus-building. The central government needs to work in tandem with state governments and consult different stakeholders impacted by reform decisions. Timing and sequencing are critically important in the new reforms’ agenda.
- According to the given text, ____________ was adopted as the guiding principle of governance and all governments since 1991.
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- It reduces the balance of payment deficit.
- It is shown in the credit side of the current account.
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| Column A | Column B |
| 1. Excess Demand | (a) Unsold inventories |
| 2. Revenue and Expenditure Policy of Government | (b) Fiscal policy |
| 3. Moral pressure and suasion | (c) Fiscal policy |
| 4. Correction of Inflationary Gap | (d) Government expenditure on welfare |
Which other monetary policy instrument the RBI cannot use?
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Match the items in Column A to those in Column B and choose the correct option:
| Column A | Column B | ||
| 1 | GST | (a) | Indirect Tax |
| 2 | Income Tax | (b) | Burden can be shifted |
| 3 | Fine | (c) | Direct Tax |
| 4 | Tax Receipts | (d) | Capital Receipt |
The government encourages exports to correct excess capacity in the economy. This ma)l lead to:
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Identify the correctly matched pair in Column A and Column B from the following:
| Column A | Column B | ||
| 1 | Uniformity of taxes | (a) | Effect of 2016 Demonetisation |
| 2 | At the State Level | (b) | Benefit of GST |
| 3 | One Point Single Tax | (c) | Objective of GST |
| 4 | Brought an end to black money | (d) | SGST |
