HORTICULTURE

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HORTICULTURE SCIENCE

COMMERCIAL HORTICULTURE AND BIO INPUTS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Union Budget to give a boost to exports and manufacturingIn a major push to LGD (lab grown diamonds) manufacturing, duty on LGD seeds reduced from 5% to 0%; research grant of Rs. 242 crore to IIT Madras approvedCustom duty on articles of precious metals such as gold, silver and platinum has been increased from 20% to 25% thereby increasing the duty differential to 10% over gold/silver/platinum bars. This will boost domestic manufacturing in the sector and result in import substitution. Custom duty on imitation jewellery has been enhanced from 20% to 25%. This will discourage cheap imports from China and encourage domestic manufacturing.Import duty of fish meal reduced from 15% to 5% ; move will make shrimp industry more competitiveThe recommendation of Department of Commerce for increase in import duty on compound rubber from 10% to 25% has been agreed to.
A
True
B
True
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -There are two methods used to create lab diamonds: CVD (chemical vapour deposition) and HPHT (high pressure high temperature). Both methods are effective in creating high-quality, authentic diamonds, identical to those found in nature.

Detailed explanation-2: -LGDs are environment friendly diamonds which have same optical and chemical properties as natural diamonds. “To encourage indigenous production of LGD seeds and machines and to reduce import dependency, a research and development grant will be provided to one of the IITs for five years, ‘’ the budget speech said.

Detailed explanation-3: -Lab grown diamonds are made from a carbon seed through a process that crystalizes these seeds into diamonds. While these diamonds optically & chemically same properties as natural diamonds, they cost 40-70 percent lower than natural diamonds.

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