Everything From A Single Para English Aptitude Test-The Hindu Editorial 28/08

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Everything From A Single Para | English Aptitude Test | The Hindu Editorial

These Questions Completely based on Single The Hindu Editorial. The purpose to start this is to make you read the same paragraph again and again to understand the different types of questions like comprehension, cloze test, sentence arrangement, sentence improvement, vocab, antonyms, synonyms, fillers (all based on single paragraph) etc. Reading this paragraph while practicing these questions will help you understand.

The Hindu Editorial : 28 August 2019

Subject:- Government should use RBI funds in a prudent manner

Title:- It is morally unacceptable that any one government can swallow even a part of such funds to help meet its expenditure in a particular year.

After a long tug of war, the government has eventually had its way with the Reserve Bank of India, managing to get it to part with a portion of its accumulated reserves. The RBI board, on Monday, decided to transfer a massive ₹1,76,051 crore to the government, including a sum of ₹52,637 crore from its contingency reserve built over the last several years.

The outflow from the RBI’s reserves was limited to this amount only because the Bimal Jalan Committee, appointed to recommend the economic capital framework for the RBI, decided to keep a major part of the reserves locked up and out of the reach of the government while opening up the remainder with strict stipulations.

The Committee has recommended, and rightly so, that the Currency and Gold Revaluation Reserve Account (₹6.91 lakh crore as of June 30, 2018), at least half of which was eyed by the government, represents unrealised gains and hence is not distributable to the government. In the case of the Contingency Reserve (built out of retained earnings), which was ₹2.32 lakh crore as of the same date, the committee said that it should be maintained within a band of 6.5-5.5% of total assets.

It left it to the RBI board to decide the precise percentage it was comfortable within this band and transfer the excess to the government. As it happened, the board, in its Monday meeting, decided to peg this ratio at 5.5% thus enabling it to transfer a sum of ₹52,637 crore to the government immediately. The committee should also be complimented for clearly specifying that the revaluation reserve cannot be used to bridge shortfalls in other reserves.

In principle, it could be argued that the government as sovereign owns the RBI and hence there is nothing wrong if it decides to tap the central bank’s reserves. Yet, that it actually chose to do so is unfortunate because these reserves represent inter-generational equity built up over several years by the RBI by squirrelling away a part of its annual surplus. It is morally unacceptable that any one government can swallow even a part of such funds to help meet its expenditure in a particular year.

The reserves, as the Jalan Committee has pointed out, represent the country’s savings for a ‘rainy day’, which is a monetary or financial crisis. Interestingly, the net surplus of ₹1,23,414 crore posted by the RBI in 2018-19 is more than double that of the previous year and is considerably higher than the ₹65,876 crore that it netted in 2015-16.

Only the release of the RBI’s Annual Report in the next few days will help in the understanding of the reasons behind the sharp jump in the surplus. The big transfer from the RBI will free up the hands of the government at a time when tax revenues are undershooting the target by a long chalk. The money, it is hoped, will be put to use in a prudent manner.

Directions (1-3) Choose the similar meaning
Q1. Swallow

a) devour
b)concrete
c)plausible
d)counter
e) None

Q2. Accumulated

a)supine
b)accumulate
c)proactive
d)fecund
e) None

Q3. Sovereign

a)sagacity
b)wisdom
c)dynastic
d)folly
e) None

Directions: (4-5) choose the opposite meaning
Q4. Prudent

a)acrimonious
b)imprudent
c)denounce
d)caustic
e) None

Q5. Monetary

a)vitriolic
b)decry
c)non financial
d)overrate
e) None

Direction (6-7): Which of the following phrases given below each sentence should replace the phrase printed in bold letters to make the sentence meaningfully correct. Choose the best option among the five given alternatives that reflect the correct use of phrase in the context of the grammatically correct sentence. If the sentence is correct as it is, mark “No Error” as your answer.
Q6. Only release of the RBI’s Annual Report in the next few days will help in the understanding of the reasons behind the sharp jump in the surplus.

a)Only release
b) Only a release
c)Only the release

d)Only as release
e) None

Q7. The reserves, as the Jalan Committee has pointed out, represent the country’s savings for a ‘rainy day’, which is a monetary or financial crisis.

a)the Jalan
b)as the Jalan
c)a the Jalan

d)when the Jalan
e) None

Directions (8-10): In the passage given below there are blanks which are numbered from 8 to 10. They are to be filled with the options given below the passage against each of the respective numbers. Find out the appropriate word in each case which can most suitably complete the sentence without altering its meaning. If none of the words given in options fits in, mark ‘None of these’ as your answer choice.

……….8…….., the net surplus of ₹1,23,414 crore posted by the RBI in 2018-19 is more than double that of the previous year and is considerably higher than the ₹65,876 crore that it…………9………. in 2015-16. Only the release of the RBI’s Annual Report in the next few days will help in the understanding of the reasons behind the sharp jump in the………10………. The big transfer from the RBI will free up the hands of the government at a time when tax revenues are undershooting the target by a long chalk. The money, it is hoped, will be put to use in a prudent manner.
Q8.

a)rambunctious
b)Interestingly
c)cavern
d) all
e) None

Q9.

a)insouciance
b)plethora
c)netted
d) all
e) None

Q10.

a)surplus
b)spare
c)over
d) all
e) None

Directions (11-12): Read each of the following sentences to find out if there is any grammatical error in it. The error, if any, will be in one part of the sentence. The number (A, B, C or d) of this part is your answer. If there is no error in the statement, then mark option (e) as your answer choice.

Q11. The Committee has recommended, and rightly so, that the(a)/ Currency and Gold Revaluation Reserve Account , at least half which was eyed(b)/ by the government, represents unrealised gains and hence(c)/ is not distributable to the government. In the case of the Contingency Reserve(d)/(e)/

a) A
b) B
c) C
d) D
e) E 

Q12. In the case of the Contingency Reserve,(a)/ which was ₹2.32 lakh crore as of the same date(b)/, the committee said that it should be(c)/ maintained within a band of 6.5-5.5% of total assets(d)/(e)/

a) A
b) B
c) C
d) D
e) E 

Directions (13-15): Rearrange the following sentences (a), (b), (c), (d), and (e) in the proper sequence to form a meaningful paragraph and then answer the questions given below.

a) Yet, that it actually chose to do so is unfortunate because these reserves represent inter-generational equity built up over several years by the RBI by squirrelling away a part of its annual surplus.
b) The committee should also be complimented for clearly specifying that the revaluation reserve cannot be used to bridge shortfalls in other reserves.
c) In principle, it could be argued that the government as sovereign owns the RBI and hence there is nothing wrong if it decides to tap the central bank’s reserves.
d) As it happened, the board, in its Monday meeting, decided to peg this ratio at 5.5% thus enabling it to transfer a sum of ₹52,637 crore to the government immediately.
e) It left it to the RBI board to decide the precise percentage it was comfortable within this band and transfer the excess to the government.

Q13. Which is the Second step after rearrangement?

a) A
b) B
c) C
d) D
e) E 

Q14. Which is the Third step after rearrangement?

a) A
b) B
c) C
d) D
e) E 

Q15. Which is the Fourth step after rearrangement?

a) A
b) B
c) C
d) D
e) E 

Directions (16-17): In each of the following sentences, there is a blank space. Below each such sentence, there are four options with one word each. Fill up the blank with the word that makes the sentence grammatically and contextually correct. If none of the four words is your answer, choose option (e) as your answer choice.

Q16. It is ……… unacceptable that any one government can swallow even a part of such funds to help meet its expenditure in a particular year.

a)revenues
b)chalk
c)morally
d) All
e) None

Q17. The reserves, as the Jalan Committee has pointed out, represent the country’s savings for a ‘rainy day’, which is a monetary or ……….crisis.

a)financial
b)higher
c)saving
d) All
e) None

Directions (18-20): Answer the questions given below based on the passage.

Q18. According to passage what is the meaning of the phrase the Rainy Day?

a)used in reference to a possible time in the future when money will be needed.
b)Most deeds/actions/misdeeds require participation from two people
c)Once in a while, infrequently
d)All
e) None

Q19. According to passage on what is the recommendation of the committee ragarding Contingency funds?

a) it should maintain 6.5-5.5% of total assets
b)sum of ₹52,637 crore should remain with RBI
c) net surplus of ₹1,23,414 crore should be with government
d)All
e) None

Q20. Which of the following statements is/are true in context of the passage above?

(I) RBI board,decided to transfer a massive ₹1,76,151 crore to the government
(II) Currency and Gold Revaluation Reserve Account, at least half of which was eyed by the government
(III) The committee should also be complimented for clearly specifying that the revaluation reserve cannot be used to bridge shortfalls in other reserves.

a) Only (III)
b) Both (I) and (II)
c) Both (II) and (III)
d) All are incorrect
e) None

Answers With Explanation

Ans.1, a it means cause or allow (something, especially food or drink) to pass down the throat.
Ans.2,c it means gather together or acquire an increasing number or quantity of.
Ans.3, c it means a supreme ruler, especially a monarch.
Ans.4, b Prudent means acting with or showing care and thought for the future. Imprudent means not showing care for the consequences of an action; rash.
Ans.5, c Monetary means relating to money or currency. Non financial means not of or relating to finance or financiers.
Ans.6, c Only as an adjective
We use only as an adjective to mean that there is just one or very few of something, or that there are no others:

He was the only person in the room.
We use only as an adverb to mean that something is limited to some people, things, an amount or an activity:

This phone is only available in Japan.
As an adjective, we use only in front of a noun or one, or before another adjective or a number:

Is that your only copy of the book?
Ans.7, b We can use as to introduce two events happening at the same time. After as, we can use a simple or continuous form of the verb. The continous form emphasises an action that interrupts or occurs during the progress of another action

As she walked to the door, she thanked them for a lovely dinner.
Ans.8, b it means in a way that arouses curiosity or interest.
Ans.9, b it means catch (a fish or other animal) with a net.
Ans.10, a it means an amount of something left over when requirements have been met; an excess of production or supply.
Ans.11, b use half of in place of half. We can use half and half of before nouns with the definite article (the), possessives (my, your) and demonstratives (this, that):

We spent half the time talking. It was an absolute waste of time for all of us.
Why don’t you have half my chocolate?

At least half of those books can be sold.
Ans.12, e no error.
Ans.13, d is correct. EDBCA is correct.
Ans.14, b is correct.
Ans.15, c is correct.
Ans.16, c it means with reference to the principles of right and wrong behaviour.
Ans.17, a it means relating to finance.
Ans.18, a according to passage a is correct.
Ans.19, a according to passage a is correct.
Ans.20, c according to passage c is correct.

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