Question

Consider the following statements about the Foreign Trade Policy $2015-20$.
$1$. It has eliminated all duties on service imports and exports.
$2$. It is promoting the use of paperless working environment by allowing online submission of documents.
$3$. It has reduced the incentives for labor intensive exports.
Which of the given statements is/are correct?

• A. $1$ only
• B. $1$ and $2$
• C. $1$ and $3$
• D. $2$ only

Answer 1

The correct option is D $2$ only

Foreign Trade Policy, 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the “Make in India” vision. One of the major objectives of this policy is to move towards a 24x7 paperless working environment. Measures have been taken to give a boost to exports of defense and hi-tech items. Duty credit scrips (tax incentive to exporters) are issued under MEIS and SEIS which are schemes under FTP 2015-20.