Language Compre...

Directions: Read the following passage and answer the question given below it.

Today the import duty on a complete machine is 35% for all practical purpose, whereas the import duty on raw materials and components ranges between 40-85%. The story does not end here. After paying such high import duties on component, once a machine is made, it suffers excise duty from 5% to 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. central sales tax or State sales taxes which range from 4% to 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4%-7% prevailing in advanced countries.

The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reasons for the high cost of Indian machines.

The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.

It is to be noted that India is at least 6,000 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6,000 km away?

Then, what is it that the industry request from the Government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most important, it requests for the Government's consideration and understanding.

Directions: Read the following passage and answer the given question:

The Great Recession has not been great for free trade. As unemployment has risen throughout the world, governments have become more focused on protecting their own industries than on promoting international commerce. The US, though typically an enthusiastic supporter of open markets, has included "buy American" clause in its stimulus package and propped up its flailing auto industry with handouts. But according to the Asian Development Bank (ADB), in the part of the world that was hit hardest by the trade crash - Asia, the number of Free Trade Agreements (FTAs) signed by Asian countries has grown from just three in 2000 to fifty-six by the end of August 2009. Nineteen of those FTAs are among 16 Asian economies, a trend that could help the region become a powerful trading block. The drive to lower trade barriers has taken on fresh urgency amid the recession. As Asian manufacturing networks become more intertwined, and as Asian consumers become wealthier, regional commerce is becoming critical to future economic expansion. Intraregional trade last year made up 57% of total Asian trade, up from 37% in 1980. In the past, Asia produced for America and Europe, now Asia is producing for Asia.

Of course, Asia is still dependent for sales on the West. But FTAs could reduce the region's exposure to the US by giving Asian companies preferential treatment in selling to Asian companies and consumers. However, these benefits could come with downsides. According to the experts, FTAs create a non-level playing field with advantages for Asian countries. If, the most dynamically growing part of the global economy gives the US restricted access, it will impact global balance. Companies in countries like the US which left out of the trade pacts could face disadvantages, when they will try to tap fastgrowing Asian markets. This, in turn, could have a negative impact on efforts to rebalance excessive debt in the US and excessive savings in Asia. Still, the benefits of greater regional integration could prove powerful enough to overcome the roadblocks. If they do, the world economy may never be the same.

Directions: Read the following passage and answer the given question:

The Great Recession has not been great for free trade. As unemployment has risen throughout the world, governments have become more focused on protecting their own industries than on promoting international commerce. The US, though typically an enthusiastic supporter of open markets, has included "buy American" clause in its stimulus package and propped up its flailing auto industry with handouts. But according to the Asian Development Bank (ADB), in the part of the world that was hit hardest by the trade crash - Asia, the number of Free Trade Agreements (FTAs) signed by Asian countries has grown from just three in 2000 to fifty-six by the end of August 2009. Nineteen of those FTAs are among 16 Asian economies, a trend that could help the region become a powerful trading block. The drive to lower trade barriers has taken on fresh urgency amid the recession. As Asian manufacturing networks become more intertwined, and as Asian consumers become wealthier, regional commerce is becoming critical to future economic expansion. Intraregional trade last year made up 57% of total Asian trade, up from 37% in 1980. In the past, Asia produced for America and Europe, now Asia is producing for Asia.

Of course, Asia is still dependent for sales on the West. But FTAs could reduce the region's exposure to the US by giving Asian companies preferential treatment in selling to Asian companies and consumers. However, these benefits could come with downsides. According to the experts, FTAs create a non-level playing field with advantages for Asian countries. If, the most dynamically growing part of the global economy gives the US restricted access, it will impact global balance. Companies in countries like the US which left out of the trade pacts could face disadvantages, when they will try to tap fast growing Asian markets. This, in turn, could have a negative impact on efforts to rebalance excessive debt in the US and excessive savings in Asia. Still, the benefits of greater regional integration could prove powerful enough to overcome the roadblocks. If they do, the world economy may never be the same.

Directions: Read the following passage and answer the given question:

The Great Recession has not been great for free trade. As unemployment has risen throughout the world, governments have become more focused on protecting their own industries than on promoting international commerce. The US, though typically an enthusiastic supporter of open markets, has included "buy American" clause in its stimulus package and propped up its flailing auto industry with handouts. But according to the Asian Development Bank (ADB), in the part of the world that was hit hardest by the trade crash - Asia, the number of Free Trade Agreements (FTAs) signed by Asian countries has grown from just three in 2000 to fifty-six by the end of August 2009. Nineteen of those FTAs are among 16 Asian economies, a trend that could help the region become a powerful trading block. The drive to lower trade barriers has taken on fresh urgency amid the recession. As Asian manufacturing networks become more intertwined, and as Asian consumers become wealthier, regional commerce is becoming critical to future economic expansion. Intraregional trade last year made up 57% of total Asian trade, up from 37% in 1980. In the past, Asia produced for America and Europe, now Asia is producing for Asia.

Of course, Asia is still dependent for sales on the West. But FTAs could reduce the region's exposure to the US by giving Asian companies preferential treatment in selling to Asian companies and consumers. However, these benefits could come with downsides. According to the experts, FTAs create a non-level playing field with advantages for Asian countries. If, the most dynamically growing part of the global economy gives the US restricted access, it will impact global balance. Companies in countries like the US which left out of the trade pacts could face disadvantages, when they will try to tap fast growing Asian markets. This, in turn, could have a negative impact on efforts to rebalance excessive debt in the US and excessive savings in Asia. Still, the benefits of greater regional integration could prove powerful enough to overcome the roadblocks. If they do, the world economy may never be the same.

Directions: In the given passage, there are words/groups of words highlighted in bold and underlined. You have to decide if the word/group of words given is correct (in terms of grammar and context). If not, find out the appropriate word/group of words from the given options. In case, the suggested word/group of words is correct, mark the option 'The given word(s) is/are correct' as your answer.

Good manners __(i)__ stand next to a good heart in adapting men and women to the community in which they live. Indeed, so far as the __(ii)__ mind of ordinary society matters, good manners go further, for however gifted by nature or education one maybe, or however well-intentioned and __(iii)__ benefitting in conduct, if he is __(iv)__ unknown of the customs and requirements of good society, is awkward or __(v)__ looking bad in manner, careless in speech, and heedless of social demands, and even of the arbitrary dictates of fashion, he risks exposing himself to __(vi)__, joke and may be __(vii)__ disabled or condemned, while men far below him in character and ability, but with superior knowledge of correct social deportment, may become the admired favourites of the world. In short, it may be said that success in life often depends far more on appearance and deportment than on __(viii)__ domestic character.

Directions: Read the following passage and answer the question given below it.

Today the import duty on a complete machine is 35% for all practical purpose, whereas the import duty on raw materials and components ranges between 40-85%. The story does not end here. After paying such high import duties on component, once a machine is made, it suffers excise duty from 5% to 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. central sales tax or State sales taxes which range from 4% to 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4%-7% prevailing in advanced countries.

The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reasons for the high cost of Indian machines.

The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.

It is to be noted that India is at least 6,000 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6,000 km away?

Then, what is it that the industry request from the Government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most important, it requests for the Government's consideration and understanding.