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Economics-CBSE-class-11-NCERT-solutions-->View question

What is the meaning of quantitative restrictions? -Economics CBSE class 11 ncert

Book: Indian Economic Development
Chapter 3: Liberalism, Privitisation and Globalisation: An appraisal
 (NCERT textbook questions)


Asked On2017-07-14 09:36:08 by:Aparna-Dasgupta

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Quantitative restrictions are the limits imposed by countries on the quantity of goods and services which can be imported or exported. It is also a practice of regulating production of a particular good and service. It includes import quota and voluntary export restraints signed by the exporters of foreign countries. It discouraged imports of goods and enabled to protect domestic producers from highly competitive cheaper and technologically advanced goods produced by other countries. It led to the slow growth of industries, and therefore, the trade policy reforms abolished these restrictions from April 2001, except for the hazardous and socially undesirable goods.

Answerd on:2017-07-17 Answerd By:milan-ransingh

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