Mains Answer Writing
Concept Mapping Mentorship- Covering Syllabus Through Themes
- GS & Optional
What do you understand by tariff rationalization? Explain its significance in boosting domestic manufacturing.
Category: Economy (GS -III),
Test Date: 28 Feb 2025
Approach:
- Introduction: Define tariff rationalization (process of revising and simplifying the tariff structure to remove anomalies, ensuring a more efficient and transparent trade regime)
- Significance of Tariff Rationalization in Boosting Domestic Manufacturing: Reduction in Import Costs; Enhancing Export Competitiveness; Attracting Investments; Efficient Use of Resources
- Example: Mention how the reduction of peak tariff rates (e.g., from 100%-150% to 70%) and the rationalization of customs duties on raw materials, such as components for manufacturing, can help in improving the cost-effectiveness of domestic industries.
- Conclude accordingly
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