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Directions(1-5): In each of the following questions a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five answer choices given, to make the passage complete and coherent (coherent mean In recent years we have imported upwards of Rs 1 lakh crore of coal, never mind our large proven reserves, thanks to much policy dithering. The coal secretary has reportedly declined to identify the coal blocks, the estimated reserves contained in them, or specified the auction methodology to be followed.
Q1.For the banking sector, the thrust to digital economy will help banks expand their digital footprint as well as to meet the additional 10 lakh new point-ofsale terminals target by March 2017. The agriculture lending target has been substantially revised to Rs 10 lakh crore supported by further provisions for agriculture insurance. _____________________________ This can done by supporting infrastructure creation in rural areas, which the Budget aims at doing.
(a)It is important to create credit absorption capacity rather than to just enhance lending targets.
(b) The abolishing of the Foreign Investment Promotion Board is a welcome move as it removes another hurdle in movement of inward FDI.
(c) This will boost the foreign investors’ confidence to invest in India.
(d)The Budget has chalked a clear fiscal path for the years ahead and with the proposed changes in personal income tax at the lowest slab, the target of 3.
(e)2% of the GDP may be achieved if new reforms like GST kick in within the stipulated date.
Q2.What echoed with me was the more realistic assessment of growth and its correct identification on potential drag on future growth –the Twin Balance Sheet problems of stressed corporate and banks’ balance sheets. Today, some corporate are heavily leveraged and reflect as stressed assets on banks’ balance sheets. _____________________________The Survey rightly argues that economic growth will not solve the problems of stressed firms: banks’ non-performing assets (NPAs) are estimated to be as high as 16.6% of total loans, and 8.4% of GDP. Can diversion of windfall gains from remonetisation to an Asset Reconstruction Company (ARC), as recommended by the survey, help resolve the Twin Balance Sheet problem?
(a)Will the combination of challenges and uncertain global economic conditions become a serious dampener for Indian growth prospects? Not necessarily.
(b)Most of these are on public sector banks’ books, which account for nearly 70% of total bank credit to industry.
(c) There may be other ways that the government, banks and the corporate sector could bring about a revival in GDP growth even in the context of the above constraints.
(d) For one thing, listed public sector undertakings (PSUs) could deploy approximately Rs 3 lakh crore of cash and cash equivalents sitting in their balance sheets.
(e)This amount could be leveraged to approximately Rs 9 lakh crore (assuming debt to equity of 2:1).
Q3. Fourth, the present situation does not augur well for NPAs. _____________________________ This would tend to increase in the rest of the year as the cash crunch has hurt employment at the lower income levels, thus impacting their repayment capacity. The same holds for SMEs which will be affected negatively due to the slowdown in the economy. Therefore, higher NPAs are bound to be the result of the economic impact these 50 days. The issue was to have gotten sorted out by March 2017, but it looks likely that it would last for a longer period of time.
(a)This has meant that these deposits have moved over as investment in government securities (G-Sec)and after a turbulent phase of regulatory fine tuning, which also involved imposition of 100% incremental CRR at one point of time that was reversed, have moved towards a return of around 6% on the MSS bonds.
(b)Avenues for deployment of these funds have been limited, with credit growth witnessing a minor setback due to the non-fructification of the busy season impetus.
(c)There has already been an increase in the level of NPAs for personal loans, especially for education, auto and consumer durables.
(d)Hence, the spread is quite low on these exogenous deposits which have come in – some have also been converted to fixed deposits at higher rates which would lower the same.
(e) This in turn could seed an increase in the investment to GDP ratio back to 35%, which would require roughly Rs 13 lakh crore.
Q4.The second most important challenge is to ensure that the IPL, India’s signature cricket tournament, is held on schedule. Nothing in terms of planning has happened yet and the franchise owners are yet to be notified about the auction date. _____________________________Not a single IPL contract has been awarded and a tournament of this scale requires months of planning, which the administrators will now have to do on a war footing.
(a)And if the buzz within the BCCI is anything to go by, the administrators will have to do so forcibly.
(b)As the dust finally settles on the SC direction appointing Vinod Rai, Ram Guha, Diana Edulji and Vikram Limaye as interim administrators of the BCCI, it is essential we turn our attention to the challenges they are likely to face.
(c)What is the primary task at hand? Clearly it will be to implement the Lodha reforms in totality.
(d) The auction, which was initially planned for 4 February, had to be rescheduled and it is now likely that it will be held towards the end of the month.
(e) Ousted office bearers and men who now stand disqualified will do everything to put a spanner in the wheels.
Q5.An ecosystem that supports financial inclusion must also be developed, to begin with increasing the reach of digital payments. Disbursal of government benefits in bank account is just the first step._____________________________ Ubiquitous acceptance of digital payments is essential in transforming India from a cash to a cash-less society.
(a)It is important that such funds also be used digitally instead of being withdrawn in the form of cash.
(b)Transaction fee needs to be minimised especially on low-ticket transactions.
(c)Also, an institution similar to Deposit Insurance and Credit Guarantee Corporation (DICGC) can be set up to insure credits up to a fixed amount, so that small loans can be disbursed with minimum hassles.
(d) Schools, colleges and NGOs can be given incentives to conduct training programmes for consumers and merchants to encourage them to avail digital services.
(e) Financial institutions can be mandated to disburse a certain portion of loans only to merchants who have embraced digital payments beyond a certain threshold
Direction (6-10):Which of the Phrases A, B, C, and D given below each sentence should replace the phrases printed in bold in the sentence to make it grammatically correct. If the sentence is correct as it is given and no correction is required, mark E. as the answer.
Q6.Amendments in the land acquisition act will take the country a step closer to achieved the dream of providing houses to everyone by 2022.
(a)For achieve
(b)in achieved
(c)to achieve
(d)towards achieve
(e)No correction required
Q7.Researchers have designs a new apelike robot that can navigate dangerous situations and carry out complex tasks such as lifting debris off survivors.
(a)Have designed
(b)has designed
(c)has designated
(d)has designs
(e)No correction required
Q8.Busy live and absurd daily routines have diets go haywire.
(a) Busy lives
(b) Busily life
(c) busy lively
(d) Busily living
(e)No correction required
Q9.The winds of change, promised by the Chief Minister, are now blowing more perceptible.
(a)Much perceptible
(b)Perceptibly much
(c)perceptible more
(d)more perceptibly
(e)No correction required
Q10.Warmer conditions continued to prevails In the national capital with the minimum temperature being recorded at 4.5 degree Celcius, three notches below normal.
(a)Continue of prevailed
(b)continue to prevail
(c)continuing to be prevailing
(d)prevail to continue
(e)No correction required
