Topic: Comprehension (Test 1)



Topic: Comprehension
Q.1
In the summer, water consumption is known to decrease overall by 25%. A water Board official states that in the summer household consumption decreases by 20%, while other consumption increases by 70%. Which of the following statement is correct?
A. The ratio of household to other consumption is 8/17
B. The ratio of household to other consumption is 1/17
C. The ratio of household to other consumption is 17/8
D. There are errors in the official‟s statement
Answer : Option D
Explaination / Solution:

Let H is house hold consumption and P is the other consumption. Given H × 0.8 + P × 1.7 = (H + P) × 0.75 Ratio is negative.

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Q.2
Computers were invented for performing only high-end useful computations. However, it is no understatement that they have taken over our world today. The internet, for example, is ubiquitous. Many believe that the internet itself is an unintended consequence of the original invention. With the advent of mobile computing on our phones, a whole new dimension is now enabled. One is left wondering if all these developments are good or, more importantly, required. Which of the statement(s) below is/are logically valid and can be inferred from the above paragraph? (i) The author believes that computers are not good for us. (ii) Mobile computers and the internet are both intended inventions
A. (i) only
B. (ii) only
C. both (i) and (ii)
D. neither (i) nor (ii)
Answer : Option D
Explaination / Solution:
No Explaination.


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Topic: Comprehension Tag: English
Q.3
Direction: Read the given passage carefully and answer the questions that follow. 

As bitcoin launched in 2009, most early adopters saw its disruptive potential. While bitcoin has stalled for some time approaching a valid use of the term “stagnation”, cryptocurrency in a larger context is still just as disruptive. In 2011, I stated that bitcoin (cryptocurrency) will do to banks what e-mail did to the postal services. This is not just true, but it will be even more brutal to governments, and by extension, governmental services. 
Now, governments love anything that smells like innovation, because it means jobs, this magic word that smells of magic unicorns to anybody in government. Therefore, people who like innovation are nurturing this bitcoin thing, this cryptocurrency thing, this ethereum thing (as if governments made a difference, but still). Lots of startups in tip-of-the-spear financial technology means that their government may get a head start over other governments. They have no idea that cryptocurrency will radically scale back the power of government, not just their own one, but also all those other governments over which it seeks a competitive edge. 
Individual people in government can also love bitcoin because it gives them something to do. More specifically, it gives them something to regulate. Fortunately, other people in government see that this gives them something to do, which is to hold those government regulators with an overdeveloped sense of order somewhat in check. You’ll hear no shortage of wannabe regulators saying that “bitcoin is bad because it’s being used in crime and contraband trade!”, to which I usually respond, “well, bitcoin is a currency, so I mean you put it in relation to the US Dollar, which then… is not used in crime and contraband trade, is this the argument you’re using to support your position?”, at which point the discussion generally changes topic. 
This completely disregards the observation that bitcoin and cryptocurrency were designed to not submit to regulation in the first place. Well, at least not governmental regulation. It is heavily regulated – but by its source code, and by its source code alone. 
The reason this will cripple today’s governments — today’s idea of what a government is and does — is because today’s economy is built on one layer doing actual work and three layers of abstraction on top. 
At the first and bottom layer of our economy are the individual people doing all the actual work. 
The second layer on top of the first is the abstraction we call corporations, which is a way to organize our economy and optimize transaction costs. 
The third layer on top of the second would be banks, which handle money for corporations and individual people in a middleman gatekeeper position. 
Finally, the fourth layer is the government, which takes advantage of the banks’ gatekeeper position to siphon off taxes from money flows in order to fund itself and governmental services. In other words, layer four completely depends on layer three for its operations – or at least for the relative simplicity of funding its operations. 
Now, what bitcoin and cryptocurrency do is make away with the banks – cutting them out of the loop entirely, making them redundant, obsolete, dinosaurified. This resulting absence of anything where banks used to be creates an air gap between the functional part of the economy – people and corporations – and governments who want funding. 
The way governments want to tap all money flows in order to fund itself is not entirely unlike how the surveillance agencies want to tap all information flows in order to have an information advantage. In this way, the deployment of cryptocurrency is to tax collection what deployment of end-to-end encryption is to mass surveillance. The government can no longer reach into money flows and grab what it wants, but will be dependent on people actively sending it money. The government can’t point a gun at a computer and have it give up its money; you can only make a computer operator feel very sorry for not voluntarily producing the keys to that money. So the government is no longer able to collect taxes without the consent – even if coerced and forced consent – of the people being thus collected. 
The deployment of cryptocurrency is to tax collection what deployment of end-to-end encryption is to mass surveillance. 
Governments, and individual people in government, have no idea about this bigger picture. They’re far too wrapped up in things-as-usual to notice. They won’t see it coming until it’s already happened. 
When this happens, there will be no shortage of people in government who suddenly want to regulate cryptocurrency – only to find out it will be as effective as regulating gravity. When this happens, it will be redefined from a coercive Colossus able to take what it wants and do what it wants into a construct that actually depends on people wanting to fund it. This will be a very interesting time to live in. While today’s governments will see themselves as getting crippled, I suspect most citizens will regard it as unquestionably healthy that governments will actually begin to depend on the approval of the people at large. 
We’re just beginning to see the changes to society that the Internet brings. This is one of them.

Cryptocurrency can cripple the present governments because- 
(i) they are ignorant of the potential risk of cryptocurrency and will be unable to control it eventually 
(ii) it cannot be regulated by government regulation but can only be regulated by its source code alone 
(iii) today’s economy is built on one layer doing actual work and rest three layers of abstraction on top
A. Only (i)
B. Only (ii)
C. Both (i) and (ii)
D. Both (ii) and (iii)
E. Both (i) and (iii)
Answer : Option D
Explaination / Solution:

The answer can be interpreted from these lines, “The reason this will cripple today’s governments — today’s idea of what a government is and does — is because today’s economy is built on one layer doing actual work and three layers of abstraction on top.” and "This completely disregards the observation that bitcoin and cryptocurrency were designed to not submit to regulation in the first place. Well, at least not governmental regulation. It is heavily regulated – but by its source code, and by its source code alone."

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Topic: Comprehension Tag: English
Q.4
Direction: Read the given passage carefully and answer the questions that follow. 

As bitcoin launched in 2009, most early adopters saw its disruptive potential. While bitcoin has stalled for some time approaching a valid use of the term “stagnation”, cryptocurrency in a larger context is still just as disruptive. In 2011, I stated that bitcoin (cryptocurrency) will do to banks what e-mail did to the postal services. This is not just true, but it will be even more brutal to governments, and by extension, governmental services. 
Now, governments love anything that smells like innovation, because it means jobs, this magic word that smells of magic unicorns to anybody in government. Therefore, people who like innovation are nurturing this bitcoin thing, this cryptocurrency thing, this ethereum thing (as if governments made a difference, but still). Lots of startups in tip-of-the-spear financial technology means that their government may get a head start over other governments. They have no idea that cryptocurrency will radically scale back the power of government, not just their own one, but also all those other governments over which it seeks a competitive edge. 
Individual people in government can also love bitcoin because it gives them something to do. More specifically, it gives them something to regulate. Fortunately, other people in government see that this gives them something to do, which is to hold those government regulators with an overdeveloped sense of order somewhat in check. You’ll hear no shortage of wannabe regulators saying that “bitcoin is bad because it’s being used in crime and contraband trade!”, to which I usually respond, “well, bitcoin is a currency, so I mean you put it in relation to the US Dollar, which then… is not used in crime and contraband trade, is this the argument you’re using to support your position?”, at which point the discussion generally changes topic. 
This completely disregards the observation that bitcoin and cryptocurrency were designed to not submit to regulation in the first place. Well, at least not governmental regulation. It is heavily regulated – but by its source code, and by its source code alone. 
The reason this will cripple today’s governments — today’s idea of what a government is and does — is because today’s economy is built on one layer doing actual work and three layers of abstraction on top. 
At the first and bottom layer of our economy are the individual people doing all the actual work. 
The second layer on top of the first is the abstraction we call corporations, which is a way to organize our economy and optimize transaction costs. 
The third layer on top of the second would be banks, which handle money for corporations and individual people in a middleman gatekeeper position. 
Finally, the fourth layer is the government, which takes advantage of the banks’ gatekeeper position to siphon off taxes from money flows in order to fund itself and governmental services. In other words, layer four completely depends on layer three for its operations – or at least for the relative simplicity of funding its operations. 
Now, what bitcoin and cryptocurrency do is make away with the banks – cutting them out of the loop entirely, making them redundant, obsolete, dinosaurified. This resulting absence of anything where banks used to be creates an air gap between the functional part of the economy – people and corporations – and governments who want funding. 
The way governments want to tap all money flows in order to fund itself is not entirely unlike how the surveillance agencies want to tap all information flows in order to have an information advantage. In this way, the deployment of cryptocurrency is to tax collection what deployment of end-to-end encryption is to mass surveillance. The government can no longer reach into money flows and grab what it wants, but will be dependent on people actively sending it money. The government can’t point a gun at a computer and have it give up its money; you can only make a computer operator feel very sorry for not voluntarily producing the keys to that money. So the government is no longer able to collect taxes without the consent – even if coerced and forced consent – of the people being thus collected. 
The deployment of cryptocurrency is to tax collection what deployment of end-to-end encryption is to mass surveillance. 
Governments, and individual people in government, have no idea about this bigger picture. They’re far too wrapped up in things-as-usual to notice. They won’t see it coming until it’s already happened. 
When this happens, there will be no shortage of people in government who suddenly want to regulate cryptocurrency – only to find out it will be as effective as regulating gravity. When this happens, it will be redefined from a coercive Colossus able to take what it wants and do what it wants into a construct that actually depends on people wanting to fund it. This will be a very interesting time to live in. While today’s governments will see themselves as getting crippled, I suspect most citizens will regard it as unquestionably healthy that governments will actually begin to depend on the approval of the people at large. 
We’re just beginning to see the changes to society that the Internet brings. This is one of them. 

Which of the following statements can be definitely concluded in the context of cryptocurrencies? 
(i) Some regulators believe that cryptocurrencies are generally used in crime and contraband 
(ii) At present, the use of Bitcoin has lost momentum 
(iii) Cryptocurrencies are regulated by their sourcecode
A. Only (i)
B. Only (ii)
C. All of the above
D. Both (i) and (ii)
E. Both (i) and (iii)
Answer : Option C
Explaination / Solution:

Statement (i) can be interpreted from these lines, “You’ll hear no shortage of wannabe regulators saying that “bitcoin is bad because it’s being used in crime and contraband trade!”” Statement (ii) can be interpreted from these lines, “While bitcoin has stalled for some time approaching a valid use of the term “stagnation”, cryptocurrency in a larger context is still just as disruptive.” Statement (iii) can be interpreted from these lines, “Well, at least not governmental regulation. It is heavily regulated – but by its source code, and by its source code alone.”

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Topic: Comprehension Tag: English
Q.5
Directions: Read the following passage carefully and the questions given below it. Certain words/ phrases are given in bold to help you locate them while answering some of the questions. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialised country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. The Indian economy has the potentialto become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlookfor short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest growing service sectors in the world with annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy. The IT industry continues to be the largest private sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian auto mobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three wheelers) in FY 2013-14. India has $600 billion worth of retail market in 2015 and one of world's fastest growing E-Commerce markets. India's two major stock exchanges, Bombay Stock Exchange and National Stock Exchange of India, had a market capitalisation of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to world's third largest Billionaires pool with 111 billionaires in 2016 and fourth largest number of ultra-high-net-worth households that have more than 100 million dollars. India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai CooperationOrganisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Which is India’s wealthiest state and what is its GDP?
A. Uttar Pradesh. Annual GDP of US$ 130 billion
B. Gujarat. Annual GDP of US$ 170 billion
C. Maharashtra. Annual GDP of US$220 billion
D. Tamil Nadu. Annual GDP of US$ 140 billion
E. None of these
Answer : Option C
Explaination / Solution:

The answer can be clearly picked up from the passage. "Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion".

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Topic: Comprehension Tag: English
Q.6
Directions: Read the following passage carefully and the questions given below it. Certain words/ phrases are given in bold to help you locate them while answering some of the questions. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialised country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. The Indian economy has the potentialto become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlookfor short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest growing service sectors in the world with annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy. The IT industry continues to be the largest private sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian auto mobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three wheelers) in FY 2013-14. India has $600 billion worth of retail market in 2015 and one of world's fastest growing E-Commerce markets. India's two major stock exchanges, Bombay Stock Exchange and National Stock Exchange of India, had a market capitalisation of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to world's third largest Billionaires pool with 111 billionaires in 2016 and fourth largest number of ultra-high-net-worth households that have more than 100 million dollars. India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai CooperationOrganisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

As of Feb 2015, what was the market capitalisation of, BSE and NSE (India’s two major stock exchanges)?
A. BSE: US$1.71 billion, NSE: US$1.68 billion
B. BSE: US$1.71 trillion, NSE: US$1.68 trillion
C. BSE: US$1.68 billion, NSE: US$1.71 billion
D. BSE: US$1.68 billion, NSE: US$1.71 billion
E. None of these
Answer : Option B
Explaination / Solution:

The passage states: "India's two major stock exchanges, Bombay Stock Exchange and National Stock Exchange of India, had a market capitalisation of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015."

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Topic: Comprehension Tag: English
Q.7
Directions: Read the following passage carefully and the questions given below it. Certain words/ phrases are given in bold to help you locate them while answering some of the questions. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialised country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. The Indian economy has the potentialto become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlookfor short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest growing service sectors in the world with annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy. The IT industry continues to be the largest private sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian auto mobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three wheelers) in FY 2013-14. India has $600 billion worth of retail market in 2015 and one of world's fastest growing E-Commerce markets. India's two major stock exchanges, Bombay Stock Exchange and National Stock Exchange of India, had a market capitalisation of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to world's third largest Billionaires pool with 111 billionaires in 2016 and fourth largest number of ultra-high-net-worth households that have more than 100 million dollars. India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai CooperationOrganisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Choose the word which is most OPPOSITE in meaning of the word printed in bold as used in the passage.
Corresponding
A. Equivalent
B. Parallel
C. Subsequent
D. Mismatched
E. Contradictory
Answer : Option E
Explaination / Solution:

Here the word 'corresponding' signifies that compared to the young population there is low dependency ratio. Opposite to that is the word 'contradictory'.

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Topic: Comprehension Tag: English
Q.8
Direction: Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you locate them while answering some of the questions. 

The idea that every individual should have access to a minimum guaranteed basic income is not new. Thomas Paine sought an equal inheritance for everyone, “a national fund” which would pay every adult a sum of “fifteen pounds sterling as compensation” for the introduction of the system of landed property. Over the last century, with the Great Depression, welfare policy in the U.S. was transformed with minimum wage legislation, while Keynesianism meant that the government would attempt to stimulate the economy during downturns by directly financing public employment and public works. Long-term support was offered to the aged, the disabled and single mothers while unemployment insurance sought to support the temporarily unemployed. The 1960s brought about the war on poverty, waged through federally funded social service and healthcare programmes. Milton Friedman sought a negative income tax, eliminating the need for a minimum wage and potentially the “welfare trap”, while bureaucracy could be curtailed. Richard Nixon supported and yet failed to push through a “Family Assistance Plan” while George McGovern’s 1972 campaign sought a $1,000 “demogrant” for all citizens. This decadal struggle against poverty in the West cut the number of those in poverty in the U.S. to 26 million from 36 million in 12 years. Education and health care were improved, but the employability and the income of the poor remained stranded. With the rise of neo-liberalism, opinion shifted. Existing welfare systems had grown too cumbersome, without eliminating poverty.
Now, however, the idea of an unconditional annual income is gathering momentum. Y Combinator, of Silicon Valley fame, is testing out a new business model: handing out money, without any strings, in an unnamed U.S. community in an attempt to replace safety net welfare policies that often fail to help those with the greatest need. Finland is considering a plan to give 100,000 citizens $1,000 a month, while four cities in Netherlands are starting trial programmes. Switzerland may have rejected, in a referendum, the idea of giving citizens about $2,500 a month, but the Canadian province of Ontario is planning a trial run. Progressives hail it as an escape route for workaholics, from oppressive jobs and situations, giving individuals greater time to build relationships and pursue education or artistic endeavours. Conservatives applaud its potential to shrink bureaucracy. As job concerns about automation grow, the basic income stands out as a panacea.
Even India has seen its share of basic income experiments. A pilot in eight villages in Madhya Pradesh provided over 6,000 individuals a monthly payment (Rs.100 for a child, Rs.200 for an adult; later raised to Rs.150 and Rs.300, respectively). The money was initially paid out as cash, while transitioning to bank accounts three months later. The transfer was unconditional, saving the prevention of substitution of food subsidies for cash grants. The results were intriguing. Most villagers used the money on household improvements while taking precautions against malaria — 24.3 per cent of the households changed their main source of energy for cooking or lighting; 16 per cent had made changes to their toilet. There was a seeming shift towards markets, instead of ration shops, given better financial liquidity, leading to improved nutrition, particularly among SC and ST households, and better school attendance and performance. There was an increase in small-scale investments (better seeds, sewing machines, equipment repairs etc). Bonded labour decreased, along with casual wage labour, while self-employed farming and business activity increased. Financial inclusion was rapid – within four months of the pilot, 95.6 per cent of the individuals had bank accounts. Within a year, 73 per cent of the households reported a reduction in their debt. There was no evidence of any increase in spending on alcohol.
Before moving ahead, we would need more data to prove its applicability in the Indian context. There have only been eight large-scale pilot programmes testing the impact of a universal basic income on human well-being. Social context too matters — what might have worked in Manitoba or Kenya might not necessarily be applicable to India. We need a greater depth of pilot studies, focussed on ensuring universal access and covering minimum living expenses. With more pilots planned in Oakland, Netherlands, Germany and India, insights developed can be used to modify welfare policy.

What according to the passage is not new now?
A. The idea that every individual should have access to a minimum guaranteed basic income
B. A plan to give Rs 100,000 citizens Rs 1,000 a month
C. The idea of Social context
D. The idea of giving citizens about Rs 2,500 a month
E. The idea of an unconditional annual income
Answer : Option A
Explaination / Solution:
No Explaination.


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Topic: Comprehension Tag: English
Q.9
Direction: Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you locate them while answering some of the questions. 

The idea that every individual should have access to a minimum guaranteed basic income is not new. Thomas Paine sought an equal inheritance for everyone, “a national fund” which would pay every adult a sum of “fifteen pounds sterling as compensation” for the introduction of the system of landed property. Over the last century, with the Great Depression, welfare policy in the U.S. was transformed with minimum wage legislation, while Keynesianism meant that the government would attempt to stimulate the economy during downturns by directly financing public employment and public works. Long-term support was offered to the aged, the disabled and single mothers while unemployment insurance sought to support the temporarily unemployed. The 1960s brought about the war on poverty, waged through federally funded social service and healthcare programmes. Milton Friedman sought a negative income tax, eliminating the need for a minimum wage and potentially the “welfare trap”, while bureaucracy could be curtailed. Richard Nixon supported and yet failed to push through a “Family Assistance Plan” while George McGovern’s 1972 campaign sought a $1,000 “demogrant” for all citizens. This decadal struggle against poverty in the West cut the number of those in poverty in the U.S. to 26 million from 36 million in 12 years. Education and health care were improved, but the employability and the income of the poor remained stranded. With the rise of neo-liberalism, opinion shifted. Existing welfare systems had grown too cumbersome, without eliminating poverty.
Now, however, the idea of an unconditional annual income is gathering momentum. Y Combinator, of Silicon Valley fame, is testing out a new business model: handing out money, without any strings, in an unnamed U.S. community in an attempt to replace safety net welfare policies that often fail to help those with the greatest need. Finland is considering a plan to give 100,000 citizens $1,000 a month, while four cities in Netherlands are starting trial programmes. Switzerland may have rejected, in a referendum, the idea of giving citizens about $2,500 a month, but the Canadian province of Ontario is planning a trial run. Progressives hail it as an escape route for workaholics, from oppressive jobs and situations, giving individuals greater time to build relationships and pursue education or artistic endeavours. Conservatives applaud its potential to shrink bureaucracy. As job concerns about automation grow, the basic income stands out as a panacea.
Even India has seen its share of basic income experiments. A pilot in eight villages in Madhya Pradesh provided over 6,000 individuals a monthly payment (Rs.100 for a child, Rs.200 for an adult; later raised to Rs.150 and Rs.300, respectively). The money was initially paid out as cash, while transitioning to bank accounts three months later. The transfer was unconditional, saving the prevention of substitution of food subsidies for cash grants. The results were intriguing. Most villagers used the money on household improvements while taking precautions against malaria — 24.3 per cent of the households changed their main source of energy for cooking or lighting; 16 per cent had made changes to their toilet. There was a seeming shift towards markets, instead of ration shops, given better financial liquidity, leading to improved nutrition, particularly among SC and ST households, and better school attendance and performance. There was an increase in small-scale investments (better seeds, sewing machines, equipment repairs etc). Bonded labour decreased, along with casual wage labour, while self-employed farming and business activity increased. Financial inclusion was rapid – within four months of the pilot, 95.6 per cent of the individuals had bank accounts. Within a year, 73 per cent of the households reported a reduction in their debt. There was no evidence of any increase in spending on alcohol.
Before moving ahead, we would need more data to prove its applicability in the Indian context. There have only been eight large-scale pilot programmes testing the impact of a universal basic income on human well-being. Social context too matters — what might have worked in Manitoba or Kenya might not necessarily be applicable to India. We need a greater depth of pilot studies, focussed on ensuring universal access and covering minimum living expenses. With more pilots planned in Oakland, Netherlands, Germany and India, insights developed can be used to modify welfare policy.

Which among the following is MOST SIMILAR in meaning to the word “sought”?
A. conceive
B. determine
C. ascertain
D. discover
E. desired
Answer : Option C
Explaination / Solution:

'sought' means wanted. Corresponding to it, 'desired' is the most suitable response.

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Q.10
Statement: You can always give me a ring whenever you need. Which one of the following is the best inference from the above statement?
A. Because I have a nice caller tune
B. Because I have a better telephone facility
C. Because a friend in need in a friend indeed
D. Because you need not pay towards the telephone bills when you give me a ring
Answer : Option C
Explaination / Solution:
No Explaination.


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