Directions (1-5): The following questions contain five sentences as options. Find one sentence which does not relate to the central theme of the passage.
A) The ministry of consumer affairs recently announced that the customer is free to waive off the service charge if not satisfied with the service and that the service charge component of the invoice is optional.
B) The government’s statement that the customer at a restaurant can have the service charge waived off if he or she is not satisfied with the service does not make any sense.
C) Does this imply that a restaurant offering shoddy service should be happy with charging only the price of food and government taxes such as VAT and service tax?
D) The government should think out of the box to have some of the indirect tax removed.
E) Every service provider be it a restaurant or a telecom company always wishes to offer good service and wants to retain the customer. For this good service, the establishment charges a price.
- A) Make in India initiative hopes to make India a major manufacturing hub.
B) India even aims to replace China as the new global supplier of goods and services.
C) However, complex India’s tax structure is subjective and indiscriminate.
D) They place a larger burden on important industries even while letting other get away with much lower rates and costing the exchequer a tidy sum.
E) The latest attempt to make the political funding transparent is a step that can boost our progress in this step.
- A) NBFCs represent an important linkage between the formal banking sector and informal segments of the real economy in India.
B) NBFCs provide channelization of credit from the former to the latter.
C) They have a significant presence in the microfinance, small business finance and commercial vehicles finance segments.
D) The Banking Correspondents have now been given the task of providing banking services to those where the bank cannot reach.
E) Loans & advances by NBFCs entities alone accounted for around Rs 10.7 lakh crore.
- A) The center sprang a surprise on the states by proposing that the funds for compensating the states for any shortfall in GST revenues should be collected through a cess on GST.
B) This proposal made at the meeting of the GST council is simply against the GST legislation which says that center will compensate the states for any loss of revenues from GST.
C) In GST regime, it is expected that the tax base would be comprehensive and all goods and services would be taxable with minimum exemptions.
D) But instead of compensating the states from its own revenues the central government is now trying to tap into the GST itself to raise some extra funds amounting to Rs 50,000 crore for compensating the states.
E) The central finance ministry’s proposal to add a cess on GST is invalid for many reasons.
- A) Surveys and reports all over world predict that by 2030, India could be the rising economic powerhouse of the world as China is seen today.
B) Chinese banks are now global leaders not just by asset base but also brand value, according to the latest version of Brand Finance Banking 500.
C) As the world’s largest economic power, China is expected to remain ahead of India, but the gap could begin to close by 2030.
D) Various reports suggest that India’s rate of economic growth is likely to rise while China’s would slow.
E) According to one report, the total size of the Chinese working-age population will peak in 2016 and would decline then onwards. In contrast, India’s working-age population is unlikely to peak until about 2050.
Directions (6-10): Fill in the blanks with appropriate words.
- It was an ‘historic Budget’ not only for the reasons _____by the finance minister, but also for the transformative leadership _____ by this government _____ sustaining the momentum of reforms.
A) inaugurated, shown, at
B) displayed, presented, from
C) mentioned, hidden, for
D) specified, displayed, in
- Cattle breeding has _____ returns, but it is also high risk because _____ is always in danger of falling sick, going sterile and_____ .
A) low, livestock, walking
B) high, livestock, dying
C) low, livelystock, weak
D) high, livelystock, weak
- It’s not _____being an Indian cricketer, what with the constant pressure to perform, the piercing scrutiny that is the _____ of the tyranny of the 24-hour news cycle and the need to perpetually shoulder the _____ of expectations of millions of fans.
A) manageable, outcome, weight
B) difficult, victim, outcome
C) easy, result, burden
D) helpful, outcome, hype
- Digitisation and universal access to financial services that have the _____ to transform lives of millions of citizens in a short _____ of time, should get _____ in this budget.
A) right, lapse, promoted
B) potential, span, prominence
C) power, lag, prompt
D) protocol, period, answer
- Fulfilling his poll promise to _____ the US out of the Trans-Pacific Partnership (TPP) trade agreement, American President Donald Trump _____ an executive order to _____ the free trade pact on his first full work day in office.
A) get, finalized, help
B) swing, presented, withdraw
C) pull, signed, jettison
D) help, discarded, finalize