UPSC Prelims 1995·GS1·economy·economic sectors and development

The new Exim Policy announced in 1992, is for a period of

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  1. A3 years
  2. B4 years
  3. C7 years
  4. D5 yearsCorrect

Explanation

The correct answer is D because the Export Import Policy for 1992 to 1997 was the first ever five year policy introduced by the Government of India. Prior to this, trade policies were usually announced for shorter durations of one to three years. This shift was part of the broader economic reforms and liberalization process initiated in 1991 to provide stability and continuity to the foreign trade sector. Subsequent Exim policies, now known as Foreign Trade Policies, have generally followed this five year cycle.
economy: The new Exim Policy announced in 1992, is for a period of
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