BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Financial Exchange Earnings
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Foreign Exchange Earning
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Foreign Exchange Exchange
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Foreign Exchange Earnings
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Detailed explanation-1: -In 2021, foreign exchange earnings from tourism industry across India amounted to nearly nine billion U.S. dollars. This was a rise of over 26 percent compared to the previous year.
Detailed explanation-2: -Tourism is an essential source of foreign exchange earnings. Increased foreign exchange results in an increased interest in tourists to venture abroad, increase their expenditure, and positively affect the length of their stay and vice versa. This loop creates a significant impact on the economy.
Detailed explanation-3: -India witnessed 677.63 million domestic tourist visits in 2021. This is a 11.05 per cent increase from 2020’s figures. Taj Mahal, Red Fort and Qutub Minar are the top 3 most visited sites in India in 2021-22. Taj Mahal reported a 3.29 million visits or 12.65 per cent of total footfall in 2021-22 from domestic visitors.
Detailed explanation-4: -The Ministry of Tourism, is the nodal agency for the formulation of national policies and programs and for the co-ordination of activities of various Central Government Agencies, State Governments/UTs and the Private Sector for the development and promotion of tourism in the country.