SBI Clerk Mains English (Day-31)

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Reading Comprehension

Directions (1-5): In each of the questions an inference is given in bold which is then followed by paragraphs. You have to find the paragraph(s) from which is inferred. Choose the option with the best possible outcome as your choice.

Even as the Indian economy has started to show signs of revival, it may take up to another one-and-a-half year to heal completely. This is due to the deep scar made by the current slowdown, which has (A) prolonged more than it was previously anticipated. For optimism about revival, economists have cited reasons such as the higher amount of projects sanctioned by financial institutions, greater deployment of funds in fixed assets by corporations, an increase in government CAPEX spending, and higher payouts to support rural income schemes.

On the contrary, continued weak consumer sentiments, lack of trust amongst lenders, (B) worsening of global trade wars and rising geopolitical tensions were cited as a major roadblock for growth. However, citing positive signals including de-escalation of US-China trade tensions, early resolution and a lower possibility of a no-deal BREXIT, accommodative monetary policy stance by central banks globally and better fiscal stimulus and policy support through 2019, the economists seemed hopeful of an improvement in global growth in 2020.Specifically for India, the complex taxation system in the country has been pointed out as a hurdle in development. The FICCI report suggested that a greater focus on addressing the demand side concerns along with simplification of the taxation system is important to revive the economy. Meanwhile, the estimates in the report suggest that the GDP growth rate in Q3 FY20 will be 4.7 per cent, growth for 2019-20 is likely to be 5 per cent, and in FY21, the growth may slightly improve to 5.5 per cent.

1) What is the central theme of the passage?

A) Rural economic woes to end soon; strong farm trends reveal encouraging signs.

B) Sri Lanka in third rate cut after Easter bombings.

C) The Budget Division of Department of Economic Affairs under the Ministry of Finance has notified the interest rate for the subscribers of GPF and other similar funds.

D) Good news & bad for Indian economy: It will still take this much longer to recover from slowdown woes.

E) All of these.

2) What is the meaning of CAPEX?

A) Revenue expenditure

B) Operating Expenses

C) Capital expenditure

D) Corporate finance & accounting

E) None of these

3)  Choose the option which is most similar to the word marked (A) in the paragraph

A) Protracted

B) Inflexible

C) Lessened

D) Curtailed

E) None of these

4) Choose the option which is most opposite to the word marked (B) in the paragraph.

A) Ameliorating

B) Crumbling

C) Rotting

D) Sinking

E) None of these

5) Which of the following is/are correct according to the passage?

I) After a prolonged slowdown of around six quarters, the green shoots of revival have started to become visible, especially in the rural heartland. Tractor sales – an indicator of rural demand is expected to pick up momentum after almost a year of poor demand, brokerage firm MotilalOswal said in a research note. An increase in inflation is expected to bode well for the rural market.

II) Moreover, the central government spending on the sector has increased by 21 per cent in the first seven months of the ongoing fiscal. These factors, coupled with strong water reservoir levels and pick-up in Rabi crop sowing activity indicates a positive market growth.

III) However, a majority of economists also believe that India’s GDP growth slowdown has nearly bottomed out. “Even though growth is likely to remain subdued in Q3 2019-20, data flowing in from several lead indicators have been encouraging,” said FICCI Economic Outlook Survey. The report has also cautioned that despite the promising numbers, a sustained economic recovery will take time to shape up, which can range anything between two to six quarters.

A) Only II

B) Only III

C) II and III

D) I, II and III

E) None of these

Statement – Inference

Directions (6-10): In each of the questions an inference is given in bold which is then followed by paragraphs. You have to find the paragraph(s) from which is inferred. Choose the option with the best possible outcome as your choice.

US Trade Representative Robert Lighthizer is likely to visit India next month to finalize talks on the proposed trade package between the two countries that could be announced during Donald Trump’s tour in coming months, an official said. The official said that the USTR along with his team is expected in the second week of February. They would hold discussions with the officials of the commerce ministry.

This visit of USTR assumes significance as Indian and US officials are engaged in talks to finalize dates for a possible visit by US President Donald Trump to India in the coming months. The official said that the trade package if finalized could be announced during Trump’s visit to India. The two countries are negotiating a trade package to iron out issues and promote the two-way commerce.

India is demanding exemption from high duties imposed by the US on certain steel and aluminum products, (A) resumption of export benefits to certain domestic products under their Generalized System of Preferences (GSP), greater market access for its products from sectors including agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, and cut on import duties on some ICT products. The US has also raised concerns over high (B) trade deficit with India.

In 2018-19, India’s exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19. India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18.

6) What is the central theme of the passage?

A) EU Institutions have separation of powers: European FMs Dean

B) US Trade Representative Robert Lighthizer likely to visit India next month to finalize trade package.

C) Like in all democracies, the European Parliament has the right to debate on issues it chooses.

D) Ahead of Trump visit: India and US set to finalize $10-billion trade deal in February.

E) All of these.

7) Choose the option which is most opposite to the word marked (A) in the paragraph.

A) Revitalization

B) Revival

C) Abandonment

D) Resurgence

E) None of these

8) Which of the following options is true according to the passage?

A) The deal, whose legal vetting is underway, will be signed during US President Donald Trump’s visit to India, and is a precursor to a free trade agreement between the two nations, officials in the know of the plans said.

B) There were meetings on the planned deal in Davos during the World Economic Forum. A six-member team from the US administration was in Delhi over the weekend, meeting Goyal and the relevant line ministries to discuss the contours of the proposed pact. Goyal had met Lighthizer in the US last year.

C) India and the US have been entangled in a series of trade spats across various sectors. The deal could touch upon Washington’s demand of doing away with duty on American information and communication technology goods along with market access for its dairy products and duty cuts on Harley-Davidson motorcycles. The US is also keen to sell more almonds to India. New Delhi, on the other hand, had sought market access to its fruits including grapes.

D) Under the GSP, certain products can enter the American market duty-free if the beneficiary developing country meets the eligibility criteria established by US Congress. The benefits to India were withdrawn from June 5, 2019, after the US dairy and medical devices industries alleged that Indian trade barriers affected their exports.

E) All are incorrect.

9) Choose the option which is most similar to the word marked (B) in the paragraph.

A) a situation in which the value of goods a country imports  is greater than the value of goods it exports , or the size of this difference.

B) Trade barriers are government policies which place restrictions on international trade.

C) It can either make trade more difficult and expensive or prevent trade completely

D) A limit placed on the number of imports.

E) None of these.

10) Which of the following is/are correct according to the passage?

I) Britain’s economy, lifted by the country’s post-election political stability, risks fresh turbulence as Prime Minister Boris Johnson seeks tricky Brexit trade deals amid global threats that include the coronavirus. Recent positive British economic data offset weaker figures at the end of 2019, but this is not expected to have a lasting impact despite government promises of major infrastructure spending.

II) On the eve of Brexit, there is a strong possibility that the Bank of England will later Thursday announce its first interest rate cut in more than three years, as economic headwinds gather on the horizon. “There’s still a huge amount of uncertainty over Brexit ahead of the deadline at the end of this year,” OANDA analyst Craig Erlam told AFP.

III) The Phase 1 agreement caps 18 months of tariff conflict between the world’s two largest economies that has hit hundreds of billions of dollars in goods, roiling financial markets, uprooting supply chains and slowing global growth. Trump and Liu are scheduled to sign the 86-page document, at a White House event before over 200 invited guests from business, government and diplomatic circles.

A) Only II

B) Only III

C) II and III

D) I, II and III

E) None of these

Answers :

Directions (1-5) :

1) Answer: (d)

None of the other choices A) and C) fit in the context of the passage, while Option B) is unrelated to the passage.

Option D) states that Good news & bad for Indian economy: It will still take this much longer to recover from slowdown woes.

2) Answer: (c)

Capital expenditures, commonly known as CAPEX are funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, an industrial plant, technology, or equipment.

3) Answer: (a)

Option A) is correct; ‘protracted’ means lasting for a long time or longer than expected or usual which is similar to Prolonged.

Option B) is incorrect; ‘Inflexible’ means Intractable is unrelated to given word.

Option C) and D) is incorrect, both are antonyms of the given word.

4) Answer: (a)

Option A) is correct; ‘Ameliorating’ means to make or become better, improve is the suitable antonym of the given word.

B), C) and D) are incorrect; they are synonyms of the given word.

5) Answer: (b)

Option: B) states that it will still take this much longer to recover from slowdown woes. The complex taxation system in the country has been pointed out as a hurdle in development which is related to this passage. However, a majority of economists also believe that India’s GDP growth slowdown has nearly bottomed out. “Even though growth is likely to remain subdued in Q3 2019-20, data flowing in from several lead indicators have been encouraging,” said FICCI Economic Outlook Survey. The report has also cautioned that despite the promising numbers, a sustained economic recovery will take time to shape up, which can range anything between two to six quarters.

Statement I and II states those rural economic woes to end soon; strong farm trends reveal encouraging signs. After a prolonged slowdown of around six quarters, the green shoots of revival have started to become visible; especially in the rural heartland; both are unrelated to the passage.

Directions (6-10) :

6) Answer: (b)

None of the other choices C) and D) fit in the context of the passage, while Option A) is unrelated to the passage.

Option B) states that US Trade Representative Robert Lighthizer likely to visit India next month to finalize trade package. The official said that the USTR along with his team is expected in the second week of February. They would hold discussions with the officials of the commerce ministry.

7) Answer: (c)

Option C) is correct; ‘Abandonment’ means the action or fact of abandoning or being abandoned is the suitable antonym of the given word.

A), B) and D) are incorrect; they are all synonyms of the given word.

8) Answer: (e)

None of the choices are correct in the context of the passage.

All statements state that Ahead of Trump visit: India and US set to finalize $10-billion trade deal in February. The deal will be signed during Trump’s visit to India, and is a precursor to a FTA between the two nations.

9) Answer: (a)

Option A) is suitable meaning of the given word marked as B in the given passage. Thus option A is correct.

10) Answer: (e)

None of the option is/are correct to the passage. US, China set to sign massive purchases deal, easing trade war. Trump and Liu are scheduled to sign the 86-page document, at a White House event before over 200 invited guests from business, government and diplomatic circles. A translation of the text to Chinese was still being completed late on Tuesday afternoon, as Liu met with U.S. Trade Representative Robert Lighthizer. The entire passage is related with this content.

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