In the pre-reforms period (i.e. before 1991), Export Subsidy Schemes were characterised by:
A
High transaction costs
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B
Delays
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C
Corruption
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D
All of the above
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Solution
The correct option is D All of the above India adopted socialist form of economy which involved a lot of government intervention into international trade where government used to offer export subsidies backed with transaction costs, delays and corruption so that only a few government selected companies could complete in the international market.