UPSC Essentials | Daily subject-wise quiz : Economy MCQs on India’s animal-product exports, Gini index and more (Week 187)

The UPSC Essentials daily quiz covers important topics from the static syllabus, with today's focus on the Economy. The first question assesses understanding of the Liberalised Remittance Scheme (LRS), with only one correct statement. The scheme allows resident individuals to remit up to USD 2,50,000 per financial year, but it does not permit remittance for trading in foreign exchange abroad.

The second question evaluates knowledge about India's animal-product exports, with Statement 1 and Statement 3 being correct, while Statement 2 is incorrect. The diversification of export destinations has indeed helped reduce dependence on the US market for marine products and buffalo meat exporters.

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