Q. Consider the following statements:
1.Minimum Import Price (MIP) is the price below which an exporter is not allowed to export the commodity from India.
2.Directorate General of Foreign Trade (DGFT) frames rules related to exports and imports.
3.Minimum Import Price (MIP) has been recently introduced for apples of Jammu and Kashmir.
Which of the statements given above is/are correct?
Answer: C
Notes:
Explanation –
Statement 1 is incorrect. MIP is the price below which import of the commodity is not allowed.
Statement 2 and 3 are correct. DGFT frames rules related to exports and imports. MIP has been recently introduced for apples of Jammu and Kashmir.
Source: ForumIAS
