Semantic barriers are communication hindrances arising from problems with the meaning of words and symbols.
Differently Defined Words (Symbols with Different Meanings): The same word can have different meanings to different people based on their backgrounds, experiences, or cultural contexts. For example, the word "value" can mean monetary worth to an accountant, ethical principles to a philosopher, or color saturation to an artist. This difference in interpretation can lead to misunderstanding.
Faulty Translations: When messages are translated from one language to another, the meaning can get distorted if the translator is not fluent in both languages or doesn't understand the context. Nuances, idioms, and cultural references may be lost or misinterpreted, leading to inaccurate or confusing communication.
Unclarified Assumptions: Communicators often make assumptions about the receiver's knowledge, understanding, or background. If these assumptions are incorrect and not clarified, the receiver may misinterpret the message or miss important information. For instance, using technical jargon without explaining it to someone unfamiliar with the terminology can create confusion and hinder effective communication.
Column-I has statements made by Shanthala; and, Column-II has responses given by Kanishk.

Column-I has statements made by Shanthala; and, Column-II has responses given by Kanishk.

(a) (i) Import substitution policy, if not applied carefully, can be a double-edged sword for any economy. Do you agree with the given statement? Justify your answer with valid arguments.
(ii) State how multilateral trade is different from bilateral trade.
OR
(b)
(i) Discuss briefly, causes and consequences of the tax reforms initiated during economic reforms in India.
(ii) Give one example each of a Navratna and a Maharatna company in the public sector in India.
Comparative Financial Data as on 31st March, 2024 and 2023
| Particulars | 31.03.2024 (₹) | 31.03.2023 (₹) |
|---|---|---|
| Surplus (P&L) | 17,00,000 | 8,00,000 |
| Patents | -- | 50,000 |
| Sundry Debtors | 5,80,000 | 4,20,000 |
| Sundry Creditors | 1,40,000 | 60,000 |
| Cash and Cash Equivalents | 2,00,000 | 90,000 |