Consider the following statements regarding the Minimum Export Price (MEP):
1. Minimum Export Price (MEP) is the price below which an exporter is not allowed to export the commodity from India.
2. MEP acts as a quantitative restriction to trade.
3. The Minimum Export Price (MEP) is imposed under Section 5 of the Foreign Trade (Development And Regulation) Act, 1992.
Which of the statements given above are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1, 2, and 3