Question:medium

Which of the following is not correct?
• [(1)] At present the exchange rate of the Indian currency is market determined.
• [(2)] The exchange rate remained overvalued in the pre-reform period.
• [(3)] Based on current international trade standards, trade facilitation policies include a focus on paperless procedures.
• [(4)] 'Vivad-se Vishwas' is an initiative to settle international trade disputes in India.

Show Hint

Remember:
• Market-determined exchange rate was adopted after the 1991 economic reforms.
• Trade facilitation includes paperless customs procedures and electronic documentation.
• Vivad se Vishwas is a scheme for resolving tax disputes, not international trade disputes.
Updated On: Jul 29, 2026
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Show Solution

The Correct Option is D

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