Consider the following statements with respect to the Generalized System of Preferences (GSP)?
1. It is a preferential treatment extended by a developed country to a developing country for duty-free entry of some products.
2. USA extends the benefit of GSP to India, particularly for textiles.
Which of the statements given above is/are correct?
1 only
2 only
Both 1 and 2
Neither 1 nor 2
The Generalized System of Preferences is a framework under which developed countries give preferential tariff treatment to goods imported from certain developing countries to integrate developing countries into the international trading system.
In line with the recent trade tensions with India, US have withdrawn preferential trade status for India, under the Generalized System of Preferences (GSP) programme in March, 2019.
The term 'West Texas Intermediate', sometimes found in news, refers to a grade of
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Out of the following statements, choose the one that brings out the principle underlying the Cabinet form of Government:
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A country is said to have reduced the Poverty Gap Ratio from 2010-11 to 2019-2020. What does it imply?
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