Q. Which of the following statements correctly defines the term Import Parity price –

[A] A method adopted by OPEC member countries to provide incentive to Asian Nations heavily dependent on oil imports.

[B] A Method Suggested by NITI Aayog to calculate Central issue price which takes into account the operational costs incurred by FCI.

[C] A measure of how Natural gas prices are calculated in country.

[D] A term related to Pricing of LPG (Liquefied Petroleum Gas).

Answer: D
Notes:

LPG pricing in India is done on the basis of a formula — import parity price (IPP). The IPP is determined based on LPG prices in the international market, assuming that the fuel is imported into the country. 

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