GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Both Assertion (A) and Reason (R) are true and the Reason (R) is the correct explanation of Assertion (A)
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Both Assertion (A) and Reason (R) are true and the Reason (R) is not the correct explanation of Assertion (A)
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Assertion (A) is true but Reason (R) is false
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Assertion (A) is false but Reason (R) is true
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Detailed explanation-1: -Reason (R) : Restrictive policies of commodity production, trade and tariff pursued by the colonial government adversely affected the structure, composition and volume of India’s foreign trade. Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Detailed explanation-2: -Answer: During the colonial rule, the British followed a discriminatory tariff policy under which they imposed heavy tariffs (export duties) on India’s export of handicraft products, while allowing free export of India’s raw material to Britain and free import of British products to India.
Detailed explanation-3: -The britishers started bringing the finished products into markets which were cheaper and ruined india’s trade. The britishers imposed heavy taxes on the products that India exported out. The britishers especially imposed taxes on the handicraft industries which exported their products outside.