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Consider the following scenarios:
1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.
2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.
3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.
The duties X, Y, and Z respectively are
1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.
2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.
3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.
The duties X, Y, and Z respectively are
- a)Anti Dumping Duty, Safeguard Duty, Countervailing Duty
- b)Countervailing Duty, Safeguard Duty, Anti Dumping Duty
- c)Anti Dumping Duty, Countervailing Duty, Safeguard Duty
- d)Countervailing Duty, Anti Dumping Duty, Safeguard Duty
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following scenarios:1. A large number of mobiles are expo...
Answer:
The correct option is 'C' i.e. Anti Dumping Duty, Countervailing Duty, Safeguard Duty.
Explanation:
The given scenarios describe the imposition of duties by the Government of India to rectify trade distortions caused by unfair trade practices of other countries. The duties imposed in each scenario are as follows:
1. Duty X on mobiles imported from China:
- This duty is imposed to rectify the trade distortion caused by China exporting mobiles to India at a price lower than its production cost, which is known as dumping.
- The duty imposed in this scenario is Anti Dumping Duty.
2. Duty Y on solar panels imported from the U.S:
- This duty is imposed to rectify the trade distortion caused by the U.S resorting to the subsidization of solar panel exports to India.
- The duty imposed in this scenario is Countervailing Duty.
3. Duty Z on televisions imported from South Korea:
- This duty is imposed to protect the domestic manufacturers from the surge in imports from South Korea, which is known as import surge.
- The duty imposed in this scenario is Safeguard Duty.
Therefore, the correct order of duties imposed in the given scenarios is Anti Dumping Duty, Countervailing Duty, and Safeguard Duty, which is option 'C'.
The correct option is 'C' i.e. Anti Dumping Duty, Countervailing Duty, Safeguard Duty.
Explanation:
The given scenarios describe the imposition of duties by the Government of India to rectify trade distortions caused by unfair trade practices of other countries. The duties imposed in each scenario are as follows:
1. Duty X on mobiles imported from China:
- This duty is imposed to rectify the trade distortion caused by China exporting mobiles to India at a price lower than its production cost, which is known as dumping.
- The duty imposed in this scenario is Anti Dumping Duty.
2. Duty Y on solar panels imported from the U.S:
- This duty is imposed to rectify the trade distortion caused by the U.S resorting to the subsidization of solar panel exports to India.
- The duty imposed in this scenario is Countervailing Duty.
3. Duty Z on televisions imported from South Korea:
- This duty is imposed to protect the domestic manufacturers from the surge in imports from South Korea, which is known as import surge.
- The duty imposed in this scenario is Safeguard Duty.
Therefore, the correct order of duties imposed in the given scenarios is Anti Dumping Duty, Countervailing Duty, and Safeguard Duty, which is option 'C'.
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Consider the following scenarios:1. A large number of mobiles are expo...
- The Pachmarhi Plateau is also known as the ‘Queen of Satpura’ because it contains valleys, marshes, streams, and waterfalls, all of which have led to the development of unique and varied biodiversity.
- Gangau wildlife sanctuary is part of Panna Tiger Reserve which also includes Panna National Park and Ken Gharial Sanctuary.
- Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value. This is an unfair trade practice that can have a distortive effect on international trade. Anti-dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. Thus, the purpose of anti-dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. The use of anti-dumping measures as an instrument of fair competition is permitted by the WTO. Duty X is an anti-dumping duty as it imposed to counter trade distortive effect caused by the dumping of goods below the normal price.
- Apart from dumping, some of the countries also resort to the subsidization of their exports to other countries. Export subsidies, under the WTO agreement, are treated as unfair trade practice and such subsidies are actionable by way of levy of anti-subsidy countervailing duty. Duty Y is a countervailing duty as it imposed to counter the trade distortion caused by the subsidization of exports.
- There is one more trade remedial measure called "safeguards" which are applied as an emergency measure in response to the surge in imports of a particular item. Safeguard duty is applied when: there is a surge in imports of a particular product irrespective of a particular country/ies and, it causes serious injury to the domestic industry.
- Duty Z is safeguard duty as it is imposed to curb the effects of a sudden increase in imports.
- Hence option (c)is the correct answer.
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Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer?
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Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer?.
Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following scenarios:1. A large number of mobiles are exported by China to India at a price lower than its production cost, creating trade distortion. To rectify it, the Government of India imposed duty X on mobiles.2. U.S is following unfair trade practices by resorting to the subsidization of solar panel exports to India. As a remedial measure, India levied duty Y on the import of solar panels.3. There is a surge in the import of televisions from South Korea distorting the market in India. To protect the domestic manufacturers, India levied duty Z on the import of televisions.The duties X, Y, and Z respectively area)Anti Dumping Duty, Safeguard Duty, Countervailing Dutyb)Countervailing Duty, Safeguard Duty, Anti Dumping Dutyc)Anti Dumping Duty, Countervailing Duty, Safeguard Dutyd)Countervailing Duty, Anti Dumping Duty, Safeguard DutyCorrect answer is option 'C'. Can you explain this answer?.
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