“20-20” English Question | Crack RBI Grade B 2018 Day-168

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Directions (1-10): Read the following passage carefully and answer the questions given below it

Since May 2014, growth has accelerated but at a much slower rate than that it already had commenced upon in 2013-14. India today is the world’s fastest growing economy but this we owe to the fact that China has slowed more than India has. India has not exactly surged to number one position. But more importantly, the government has not so far been able to achieve the substantial quickening of the economy. The government has on occasion extolled its record in maintaining macroeconomic stability. Inflation has declined but this only reflects a downward trend that had started in 2013-14. The government would also no doubt like to take credit for sticking to the pre-announced fiscal consolidation path. The fiscal deficit has steadily declined since May 2014. The Finance Minister’s public statements suggest that he treats this as a significant achievement of his government. The truth is that this government had inherited an economy with quite rapidly accelerating growth and steadily declining inflation. It is with respect to investment that the government’s record is uninspiring. Far from having been able to instil confidence among private investors, the government has been unable to stem a decline in capital formation as a share of output in progress for at least half a decade. On its part the government takes recourse to the figures on foreign direct investment to signal the effectiveness of its policies. Data from the Department of Industrial Policy and Promotion show that in the year just passed, the economy attracted increased FDI up to 29 per cent in dollar terms. In the year 2014-15, FDI amounted to a mere 4 per cent of total capital formation in India. So, while FDI is to be encouraged, its ability to make a significant contribution to growth is limited. On the other hand, over 75 per cent of capital formation is undertaken by the domestic private sector.

Right now private investment is very likely being restrained by the weak balance sheet of firms. The flip side of this is the high level of non-performing assets of the public commercial banks. Forcing these banks to lend would be poor policy. But it is not clear whether everything that can be done to lower the lending rate is being done. After all, consumer price index inflation, the Reserve Bank of India’s preferred inflation index, is trending downward and there is a case for lowering lending rates. But the RBI has now been put into the straitjacket of inflation targeting and can no longer respond to considerations of output. The government, however, is reluctant to use it to increase aggregate demand for fear of deviating from its fiscal consolidation path. It is of course possible to step up public investment by trimming subsidies. Here the National Democratic Alliance government’s approach is cravenly political, and no different from that of its predecessor, the United Progressive Alliance. It is reluctant to be seen as cutting subsidies even when it is clear that a rupee-for-rupee swap in certain subsidies for public capital formation is likely to be beneficial for both growth and welfare. The fertilizer subsidy presents the most obvious instance. It has done little to stem the rise in food prices while continuing to take up precious fiscal space. Well-designed empirical research alone can settle the matter of its desirability, and one hopes the government will provide this in time for its third annual Budget. An object of this government’s admiration has been revealed to us in the choice of speaker for the first NITI Aayog Lecture on Transforming India. It chose Tharman Shanmugaratnam, the Deputy Prime Minister of Singapore who was earlier its Finance Minister for close to a decade.

A trained economist with considerable international exposure, Mr. Shanmugaratnam typifies the Singapore model, which recognises the value of high human capital in its leadership, something that India has not seen since the time of Jawaharlal Nehru. There is one specific area in which our own government may learn from the Singapore experience. The government there had instituted a provident fund to which all workers and employees have had to contribute. These contributions ensured a rise in the saving rate which in turn was a source of funding for public investment. In the muddled discourse on fiscal policy in India today, the reigning argument appears to be that a fixed private saving rate sets the limit for the attainable fiscal deficit. This overlooks the possibility of raising the private saving rate, which is precisely what the Singapore government had done early in its history, enabling it to achieve a scale of public capital formation that truly distinguishes it from India. In the Budget for 2016-17 the increase in the allocation for capital expenditure amounted to a mere 2.3 per cent, with inflation running at around 4 per cent per annum. A sector that is unlikely to be well served by the philosophy than an economy left to its own devices will achieve its potential is agriculture. Three of the past five years in India have been years of poor agricultural performance, reflected in persistent food price inflation. We are very likely witnessing creeping climate change with direct consequences for production. The advisory from most funds in the financial sector is that the economic outlook this year will depend upon the monsoon. It is surprising that the imperative of drought-proofing an increasingly vulnerable Indian agriculture hardly figures in the public discourse on the economy when it is of no less importance than rolling out the Goods and Services Tax. Nothing short of a transformation akin to the Green Revolution can achieve this, and the States would have to be on board. The present government has had little to say on the matter so far. By disbanding the Planning Commission, the Centre has lost a long-standing conduit to the States whose planning boards did have at least a titular connection to the former.

1) According to the passage which of the following statement is correct regarding the data released by Department of Industrial Policy and Promotion?

1. The economy captivated increased FDI up to 29 per cent in dollar terms.
2. FDI totaled to a mere 4 per cent of total capital formation in the year 2014-15.
3. Consumer price index inflation is shifting downward

a) i and ii

b) ii and iii

c) Only i

d) i and iii

e) None of these

2) According to the passage which is that one specific area that our government may learn from the Singapore experience.

1. To overlook on the possibilities of increasing of raising the public saving rate
2. To institute a provident fund to which all workers and employees have had to contribute and these contributions in turn will act as a source of funding for public investment.
3.  To step up public investment by trimming subsidies.

a) ii and iii

b) Only i

c) i and iii

d) Only ii

e) None of these

3) According to the passage which of the following statements have been mentioned correct related to the agriculture sector?

1. There are high chances to perceive creeping climate change with direct consequences for production
2. Three of the past five years in India have been years of poor agricultural performance, contemplated in constant food price inflation.
3. The government had inherited the sector with rapidly accelerating growth and steadily declining inflation

a) ii and iii

b) i and iii

c) i and ii

d) Only i

e) None of these

4) Which of the following is not true in the context of the passage?

1. Over 75 per cent of capital formation is commenced by the domestic private sector.
2. T. Shanmugaratnam, who was once the Prime Minister of Singapore was earlier the county’s Finance Minister
3. Inflation has declined but this only review a downward trend that had started in 2014-15.

a) i and ii

b) ii and iii

c) i and iii

d) Only ii

e) None of these

5) According to the passage which of the following has been mentioned correct regarding fertilizer subsidy?

1. It has done little to stem the rise in food prices while continuing to take up precious fiscal space.
2. These subsidies commonly reduce the price of goods and services to the consumer.
3. These Subsidies are as much an economic tool as are taxes to facilitate smooth functioning of the economy.

a) ii and iii

b) i and iii

c) Only i

d) Only ii

e) None of these

6) Which of the following is true in the context of the passage?

1. In the Budget for 2016-17 the increase in the allocation for capital expenditure amounted to a mere 2.3 per cent
2. Currently public investment is very likely being restrained by the weak balance sheet of firms.
3. The fiscal deficit has steadily declined since May 2014.

a) ii and iii

b) i and ii

c) Only ii

d) i and iii

e) All are correct

7) Choose the word which is most nearly the same in meaning as the word “reluctant” printed in bold as used in the passage

a) Amenable

b) Circumspect

c) Inclined

d) Deliberate

e) Consenting

8) Choose the word which is most nearly the same in meaning as the word “extolled” printed in bold as used in the passage.

a) Castigate

b) Debase

c) Diatribe

d) Eulogize

e) Rebuke

9) Choose the word which is most opposite in meaning of the word “creeping” in bold as used in the passage.

a) Perpetual

b) Shambling

c) Groveling

d) Wriggle

e) Slither

10) Choose the word which is most opposite in meaning of the word “conduit” in bold as used in the passage.

a) Aqueduct

b) Abeyance

c) Spout

d) Trough

e) Culvert

Directions (11-15): In each of the following sentences there is one blank space. Below each sentence there are four words denoted by a), b), c) d) and e). Find one word that to be fitted in both the sentences I and II and another word that to fit in sentence III and to make it meaning fully complete.

 11)

1. _______ by the rude shop assistant, Allie decided to take her complaint to the manager
2. Jasmine was ______ that the very slow internet had been sold to her as high-speed.
3.  He is still apparently too _______ to face the Sunday talk-show circuit.

a) Abraded, exciting

b) Mollified, childish

c) Irked, jejune

d) Appeased, insipid

e) Incommode, vapid

12)

1. When the agitated bear lunged at campers, the park ranger had no choice but to __________ it.
2. He hoped he wouldn’t have to ________ the anguished woman, but after she refused to calm down he knew he had no choice.
3. It would act as a ________ upon the future investment opportunities of business and industrial houses.

a) Sedated, repress

b) Tranquilize, fetter

c) Subdue, expedite

d) Aggravate, confine

e) Conciliate, hobbled

13)

1. They need education and other economic opportunities in order to _______ themselves from poverty.
2. The book is about how impoverished people can __________ themselves from a life of hopelessness.
3.  It has to be said it was rather ________ of him to ask a complete stranger to take care of his luggage.

a) Disengaged, forthright

b) Entangle, unworldly

c) Liberated, guileless

d) Extricate, ingenuous

e) Demarcate, artless

14)

1. Global connectivity is not required, and information can be _______ and sent to individuals at a much faster rate.
2. The results were ________ and used as a basis for both quantitative and qualitative analysis.
3. I  know my opinion is shared by many of my _________ in the Labour movement.

a) Adduced, confidant

b) Analogized, bandits

c) Collated, comrades

d) Horded, associate

e) Scrambled, compatriots

15)

1. Surely we should be surprised that, on the whole, we maintain such _________ standards of public behaviour at any age.
2. The director of the finishing school is a _________ woman known for her perfect social skills.
3. The diver knew the only way to survive the shark attack was by maintaining his _________ and not panicking.

a) Decorous, sangfroid

b) Sullen, aplomb

c) Barbaric, equanimity

d) Civilized, reverence

e) Ceremonial, aversion

Directions (16-20): In each of the following questions on phrase has been given and it has been followed by four sentences. You have to find out on which sentences phrase has been used properly according to its meaning and mark your answer from the options denoted a),b),c),d).Mark e) as your answer of you find that the phrase has been applied properly in all sentences.

16) Break out

1. The new CEO broke out the corporation.
2. Fighting broke out in the stands five minutes before the end of the match.
3. It didn’t take much exercise to make him break out in a sweat.
4. No one would have dared to break out his abstraction

a) ii and iii

b) i and iv

c) i and ii

d) iii and iv

e) All are correct

17) Chip in

1. You’re not getting any cards until you chip in.
2. I wanted to chip in, but I couldn’t get a word in dictionary.
3. He chipped in the block of marble gently.
4. If we all chip in we’ll have enough to buy a suitable gift.

a) i and ii

b) ii and iii

c) i and iv

d) All except iii

e) All are correct

18) Fill in

1. She had several cups of coffee to fill in the time until the train left.
2. Carefully filled in the job application.
3. She will fill in for him while he’s at the conference.
4. The writers were asked to fill their stories in.

a) ii and iv

b) i and iii

c) iii and iv

d) i and ii

e) All are correct

19) Throw over

1. A strong gust of wind threw over the sailboat.
2. The new player threw the runner over at third base.
3. The child was thrown over of school for unruly behavior.
4. Company wanted us to implement the new policy, but we threw it over.

a) iii and iv

b) ii and iii

c) i and iv

d) i and ii

e) All are correct

20) Hold onto

1. He’s had trouble holding onto a steady job, so hopefully this one will last.
2. My mom has held onto all my old art projects,
3.  Larry held onto the lead until the final lap.
4. Hold onto your ticket you’ll need it later.

a) iii and iv

b) ii and iii

c) i and ii

d) All except iv

e) All are correct

Answers:

Direction (1-10):

1) Answer: a)

It is clearly mentioned in para 1-Data from the Department of Industrial Policy and Promotion show that in the year just passed, the economy attracted increased FDI up to 29 per cent in dollar terms. In the year 2014-15, FDI amounted to a mere 4 per cent of total capital formation in India.

2) Answer: d)

It is clearly mentioned in para 3-There is one specific area in which our own government may learn from the Singapore experience. The government there had instituted a provident fund to which all workers and employees have had to contribute. These contributions ensured a rise in the saving rate which in turn was a source of funding for public investment.

3) Answer: c)

It is mentioned in para 3-Three of the past five years in India have been years of poor agricultural performance, reflected in persistent food price inflation. We are very likely witnessing creeping climate change with direct consequences for production

4) Answer: b)

It is clearly mentioned in para 1&2-It chose Tharman Shanmugaratnam, the Deputy Prime Minister of Singapore who was earlier its Finance Minister for close to a decade, On the other hand, over 75 per cent of capital formation is undertaken by the domestic private sector. Inflation has declined but this only reflects a downward trend that had started in 2013-14.

5) Answer: c)

It is mentioned in para 2-The fertilizer subsidy presents the most obvious instance. It has done little to stem the rise in food prices while continuing to take up precious fiscal space.

6) Answer: d)

It is clearly mentioned in para 1&2-The fiscal deficit has steadily declined since May 2014, In the Budget for 2016-17 the increase in the allocation for capital expenditure amounted to a mere 2.3 per cent, with inflation running at around 4 per cent per annum.

7) Answer: b)

The meaning of reluctant is not in favour of or unwilling

8) Answer: d)

The meaning of extolled is to praise or express delight over something

9) Answer: d)

The meaning of creeping is to occur or develop gradually and almost subtle

10) Answer: b)

The meaning of conduit is a passage or channel

Direction (11-15):

11) Answer: c)

The meaning of “irked” is to make someone angry and it is suitable for i and ii blanks and the meaning of “jejune” is immature or naïve so it is appropriate for iii blank.

12) Answer: b)

The meaning of “tranquilize” is to settle or make clam and it is suitable for i and ii blanks and the meaning of “fetter” is to hold or check so it is appropriate for iii blank.

13) Answer: d)

The meaning of “extricate” is to free someone or something from difficulty and it is suitable for i and ii blanks and the meaning of “ingenuous” is to over-trust or innocent so it is appropriate for iii blank

14) Answer: c)

The meaning of “collated” is to collect and combine information or data and it is suitable for i and ii blanks and the meaning of “comrades” a colleague or a fellow member of an organization is so it is appropriate for iii blank.

15) Answer: a)

The meaning of “decorous” is polite and restrained and it is suitable for i and ii blanks and the meaning of “sangfroid” composure or coolness shown in danger or under trying circumstances is so it is appropriate for iii blank

Direction (16-20):

16) Answer: a)

The meaning of “break out” is to develop suddenly and forcefully or to emerge and the phrase has been applied properly in ii and iii sentences.

17) Answer: d)

The meaning of “chip in” is to contribute a small amount of money or to interrupt a conversation and the phrase has been applied properly in i, ii and iv sentences

18) Answer: b)

The meaning of “fill in” is to do someone else’s job temporarily or to occupy something and the phrase has been applied properly in i and iii sentences

19) Answer: c)

The meaning of “throw over” is to reject someone or something or to overturn someone or something and the phrase has been applied properly in i and iv sentences

20) Answer: e)

The meaning of “hold onto” is to keep or maintain something or to grasp something and the phrase has been applied properly in all the sentences

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English New Pattern Questions 

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