Statement (I): Organizations like WB, IMF, ADB. OECD provide much needed low-interest loans and financial grants to the tourism industry, more particularly
in the developing countries.
Statement (II): There are no organizations that provide financial grants to the development of tourism industry.
In the light of above statements, choose the most appropriate answer from the options given below:
Statement (I) Correctness: Tourism Finance by International Organizations
Statement (I) asserts that organizations such as the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB), and the Organisation for Economic Co-operation and Development (OECD) provide crucial financial support, including low-interest loans and financial grants, to the tourism industry, particularly in developing countries.
This statement is accurate. These international and regional financial institutions frequently engage in funding development projects worldwide. The tourism sector, being a significant driver of economic growth, employment, and foreign exchange earnings, often receives support through various programs and initiatives. These funds can be used for infrastructure development (like airports, roads, hotels), marketing, policy reforms, and capacity building within the tourism sector of recipient nations.
Statement (II) Correctness: Availability of Financial Grants for Tourism
Statement (II) makes a sweeping claim that there are no organizations providing financial grants for the development of the tourism industry.
This statement is factually incorrect. As discussed under Statement (I), multiple organizations, including international bodies and even national governments or private foundations, do offer various forms of financial assistance, including grants, to support tourism development. These grants might target specific types of projects, like ecotourism, cultural heritage tourism, or tourism in underserved regions, aiming to promote sustainable development and economic upliftment.
Conclusion on Statements
- Statement (I) correctly identifies key international organizations and their role in providing financial aid (loans and grants) to the tourism sector, especially in developing economies.
- Statement (II) incorrectly denies the existence of organizations that provide financial grants to the tourism industry.
Therefore, the most appropriate conclusion is that Statement (I) is correct, and Statement (II) is incorrect.
Important Questions from Miscellaneous
A stone is thrown horizontally from the top of a 20 m high building with a speed of 12 m/s. It hits the ground at a distance R from the building. Taking g = 10 m/s2 and neglecting air resistance will give :
A mass is attached to a spring that hangs vertically. The extension produced in the spring is 6 cm on Earth. The acceleration due to gravity on the surface of the Moon is one-sixth of its value on the surface of the Earth. The extension of the spring on the Moon would be:
Directions: Each item in this section consists of a sentence with an underlined word followed by four words (a), (b), (c), and (d). Select the option that is opposite in meaning to the underlined word and mark your response in your Answer Sheet accordingly.
The deluge affected the population.The major source of vitamins and minerals for vegetarians is
Which of the following statements about the Deccan Riots Commission is/are correct?
1. The Commission did not hold enquiries in the districts which were not affected.
2. The Commission did record the statements of ryots, sahukars and eye-witnesses.
Select the correct answer using the code given below:
