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OBJECTIVES OF EXCHANGE CONTROL : Most of the developing countries including India, found it necessary to continue exchange control introduced during the Second World War on a systematic and long-term basis. Exchange control became essential in view of the substantial requirements of foreign exchange for the planned developmental effort undertaken by them. Over the years, the scope of exchange control in India has steadily widened. The regulations have become progressively more elaborate with the increasing foreign exchange outlays under successive Five Year Plans and the relative inadequate earnings of foreign exchange. During the span of more than 40 years that the control has remained in force, appraisals and reviews of policies and procedures have been undertaken periodically and modifications made as and when considered necessary.
In specific terms, the broad objective of the exchange control is:
1) To prevent flight of capital
2) To ensure the availability of sufficient foreign exchange for specific purposes such as meeting the international commitments
3) To stabilize the external value of the domestic currency, and
4) To insulate the economy from external economic pressures.
You should note that the basic objective of exchange control in India its conservation of the foreign exchange resources and proper utilization thereof in the interest of economic development of the company.
Advance against Bills Sent on Collection : Post-shipment finance is granted against bills sent on collection basis in the following situations: i) When the accommodation availa
Q. Schedules of reinforcement? An additional issue is schedules of reinforcement and extinction . Extinction takes place when behaviour stops having consequences and the behav
Definition of Exchange Rate : A foreign exchange rate is simply the price of one country's money in terms of another country's money. In other words, the rate at which one country
Administration of the Act : The exchange control policy is determined in India by the Ministry of Finance Government of India on the basis of The Foreign Exchange Regulation Act,
NEED AND RATIONALE : Export documentation is commonly considered to be the most complex and difficult part of overseas marketing. You may have come across such comments as "export
Why should a researcher do a normality and outliers' assessment before hypotheses testing? Answer To conduct many advance statistical techniques, researchers have to presu
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Recoverable Expenses: An insurance company will pay expenses incurred by the insured for recovering loss for preventing it to the cargo. This is, however, subject to two condition
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Purpose of Review The reasons for review of related literature are: 1.To gain a background knowledge of the research topic. 2. To identify the concepts relating to it pote
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