A
Financial grants provided to support infrastructure projects
B
Reduction or elimination of customs duty on specific imported goods
C
Expanding export markets to reduce dependence on specific economies
D
A pact between nations reducing non-tariff barriers on services only
Correct answer: (b) Reduction or elimination of customs duty on specific imported goods
Explanation
Option B is correct because a tariff concession specifically denotes the reduction or elimination of customs duty on specific imported goods. Option A describes Viability Gap Funding, option C describes Trade Diversification, and option D incorrectly restricts trade agreements exclusively to services.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2025 · Q76 · General Studies · 2 marks
Consider the following countries : I. United Kingdom II. Denmark III. New Zealand IV. Australia V. Brazil How many of the above countries have more than four time zones? -
2021 · Q100 · General Studies · 2 marks
Consider the following statements in respect of the ICC World Test Championship : 1. The finalists were decided by the number of matches they won. 2. New Zealand was ranked ahead of England because it won more matches than England. Which of the above statements is/are correct?