Railway GK Questions 2026

The central obligation of a zone unit is a positive net foreign exchange earning, that is the value of its exports must exceed the value of its imports, measured over a block of five years counted from the date the unit begins production, and not year by year.

Under the Act of 2005 proposals for a zone go to the Board of Approval in the Department of Commerce, which the Commerce Secretary chairs and on which the revenue, finance and other departments are represented; below it each notified zone has a Development Commissioner and a Unit Approval Committee…

The Export Credit Guarantee Corporation, founded in 1957 and first called the Export Risks Insurance Corporation, insures an Indian exporter against the commercial risk of a buyer failing to pay and the political risk of war, exchange restrictions or a ban in the buyer's country, and it also guarantees the…

The Export-Import Bank of India was set up in 1982 under the Export-Import Bank of India Act of 1981, as the country's apex institution for financing and promoting foreign trade; it lends to exporters, finances overseas buyers of Indian goods and operates the lines of credit extended by the Government…

The Directorate General of Foreign Trade works under the Department of Commerce in that ministry; it issues the importer-exporter code without which no one can trade across the border, administers the Foreign Trade Policy, and exercises powers under the Foreign Trade (Development and Regulation) Act of 1992.

The earlier merchandise exports scheme was held to be inconsistent with world trade rules because it gave an incentive directly on exports, so it was replaced by a scheme that only refunds the duties and taxes embedded in an exported product which no other scheme refunds.

The law deems a special economic zone to be outside the customs territory of India for trade operations, duties and tariffs, which is why a supply from the rest of the country into the zone is an export and a sale from the zone into the rest of the country…

The Special Economic Zones Act was passed by Parliament in 2005 and was brought into force in February 2006 together with the Special Economic Zones Rules, giving the zones a single law of their own in place of a chapter of the trade policy.

The Kandla export processing zone, set up in 1965 beside the port of Kandla, was the first such zone in Asia, and it was later converted into a special economic zone under the Act of 2005.

The Kiel Canal, opened in 1895, cuts across the base of the Jutland peninsula in northern Germany and lets ships pass from the North Sea to the Baltic without sailing round Denmark; it is one of the busiest artificial waterways in the world.

Enclosed by the United States, Mexico and the island of Cuba, the Gulf of Mexico is the largest gulf on earth, and it is the nursery of the hurricanes that strike the American coast as well as the home of the warm Gulf Stream.

The Mozambique Channel is the stretch of the Indian Ocean between Mozambique on the African mainland and the island of Madagascar, and at roughly 1,600 kilometres in length it is counted as the longest channel in the world; the Comoros lie at its northern mouth.

The Ten Degree Channel takes its name from the parallel of ten degrees north that runs along it, and it divides the Andaman group of islands from the Nicobar group, lying between Little Andaman in the north and Car Nicobar in the south.

Bab-el-Mandeb, the Gate of Tears, lies between Yemen on the Asian side and Djibouti and Eritrea on the African side, and it is the southern doorway of the Red Sea, opening into the Gulf of Aden and then the Arabian Sea; every ship using the Suez Canal on the India-Europe…

The Strait of Gibraltar is the narrow entrance to the Mediterranean from the Atlantic Ocean, with the Rock of Gibraltar on the European side and Jebel Musa on the African side; the two headlands were known to the ancients as the Pillars of Hercules.

The Bering Strait lies between the Chukchi peninsula of Russia and the Seward peninsula of Alaska, joining the Arctic Ocean to the Bering Sea, and the International Date Line passes through it; in the ice ages a land bridge here allowed people and animals to cross into America.

The Panama Canal does not cut through at sea level; ships are lifted by locks into the artificial Gatun Lake, sail across it and through the Culebra or Gaillard Cut, and are then lowered by locks on the other side, which is why the canal needs a large freshwater reservoir.

The Suez Canal, opened in 1869, runs about 193 kilometres across the Isthmus of Suez in Egypt from Port Said on the Mediterranean to the city of Suez on the Red Sea, and because the two seas stand at nearly the same level the canal needs no locks.

The Strait of Hormuz runs between the Iranian coast and the Musandam peninsula of Oman and is the only sea route out of the Persian Gulf, leading into the Gulf of Oman and from there into the Arabian Sea; that is why it is the world's most sensitive oil chokepoint.

The Palk Strait lies between the Ramanathapuram coast of Tamil Nadu and the Jaffna region of northern Sri Lanka, and it joins Palk Bay in the north with the Gulf of Mannar in the south; the shoals of Adam's Bridge run across its southern end.