The Advance Authorization Scheme (AAS) or Advance License Scheme launched by the Government of India under the Foreign Trade Policy 2015-2020 has recently attracted attention in the news. Which government body implements the Advance Authorization Scheme ?

(a) Reserve Bank of India (RBI)

(b) Ministry of Finance

(c) Directorate General of Foreign Trade (DGFT)

(d) Ministry of Commerce and Industry

Ans.(c)

Notes: The Directorate General of Foreign Trade (DGFT), operating under the Ministry of Commerce and Industry, is responsible for implementing the Advance Authorization Scheme.