RBI Grade B Officer (General / DEPR / DSIM) 2022 · Question 230 of 276

- Read the passage given below and answer the following questions India has recently signed the Economic Co-operation and Trade Agreement (ECTA) with a developed country. The Agreement encompasses cooperation across the entire gamut of bilateral economic and commercial relations between the two friendly countries, and covers areas like Trade in Goods, Rules of Origin, Trade in Services, Technical Barriers to Trade (TBT), Sanitary and Phytosanitary (SPS) measures, Dispute Settlement, Movement of Natural Persons, Telecom, Customs Procedures, Pharmaceutical products, and Cooperation in other Areas. Eight subject specific side letters covering various aspects of bilateral economic cooperation were also concluded as part of the Agreement. ECTA provides for an institutional mechanism to encourage and improve trade between the two countries. The ECTA covers almost all the tariff lines dealt in by the two countries respectively. Under the agreement mentioned in the paragraph, India will be offering preferential access on over 70% of its tariff lines which will be provided under which of the following Acts? 1. Customs Tariff Act 2. IGST 3. Custom and Excise Act

Economic and Social Issues

1. AA. Only 1
2. BB. Both 1 & 2Correct
3. CC. Only 3
4. DD. All 1, 2 & 3
5. EE. Both 1 & 3