| Which of the following can be a form of economic 'Protectionism' by India? |
| 1. Visa restriction for foreign nationals. |
| 2. Preferential market access policies for domestic industries. |
| 3. Discouraging FII. |
| 4. Increasing custom duties on imported goods and services. |
| 5. Increasing custom duties on exported goods and services. |
| Select the correct answer using the codes given below. |
A) 2, 3 and 5
B) 1, 2 and 3
C) 1, 2 and 4
D) 1, 3 and 4
Correct Answer: C
Solution :
[c] Protectionism is the economic policy of restraining trade between states (countries) through methods such as tariffs on imported goods, restrictive quotas and a variety of other government regulations designed to allow (according to proponents) fair competition between imports and goods and service produced domestically. This policy contrasts with free trade, where government barriers to trade are kept to a minimum. In recent years, it has become closely aligned with anti-globalisation. The options 3 and 5 are not protectionist measures.
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