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  9. Q47

JKPSC KAS 2023 · Question 47 of 100

Consider the following statements regarding the Generalized System of Preferences (GSP). 1. The only countries that grant GSP are USA, EU and Russia. 2. The objective of GSP was to give development support to poor countries by promoting exports from them into developed countries. 3. Most favoured Nation (MFN) status and GSP are similar in tariff structure whether it is a developed or developing country. The correct answer/s is/are:

Indian Economy

  1. A2 onlyCorrect
  2. B1 and 2 only
  3. C1 and 3 only
  4. D1, 2 and 3

Answer: A. 2 only

Explanation

Only statement 2 is correct: GSP grants non-reciprocal preferential tariffs to developing countries to boost their exports. Many countries beyond USA/EU/Russia grant GSP (1 wrong), and GSP is explicitly discriminatory in favour of developing countries, unlike MFN (3 wrong).

Source: JKPSC KAS Prelims 2023 (Set A) via TheExamPillar

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