Class Roll No.
Mid Term Examination, September 2017
B.A.LL.B. (HONS.)
SEMESTER VII IX
T&I (Hons.)-NRIT
Max. Marks: 20 Max. Time: 1:30 Hrs.
Note: Answer any TWO questions out of three. All questions carry equal marks.
1. Discuss the following:-
a. "Mercantilism was the economic counterpart of political absolutism. It includes a national economic policy aimed at accumulating monetary reserves through a positive balance of trade especially of finished goods."
In this background critically analyze the theory of mercantilism.
b. Discuss the evolution of India's international economic policy and specifically comment on the policy of Import Substitution Industrialization.
c. "Marx specifically related the differences in factor endowment to unequal economic development of the trading nations as his theory of foreign trade was firmly based on the character and dynamics of trade between unequal partners." In this background comment on the Marxist notion with respect to International Trade. (Marks
2. Discuss the following:-
a. "The object of the Foreign Trade (Development and Regulation) Act, 1992 is to provide for the development and regulation of foreign trade by facilitating imports into, and augmenting exports from, India and for matters connected therewith or incidental thereto." In this background write a descriptive note on the power of Central Government under the Foreign Trade (Development and Regulation) Act, 1992.
b. Discuss the Import Procedure under the Customs Act, 1962. (Marks
3. Discuss the following:
a. Write an explanatory note on the constitutional perspective related with Trade, Commerce and Intercourse within the Territory of India with reference to Part XIII of the Constitution of India.
b. Write a descriptive note on the attached offices under the administrative control of Ministry of Commerce and Industry. (Marks