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Mahendras has started special quizzes for IBPS & SBI Exam so that you can practice more and more to crack the examination. This IBPS & SBI Exam special quiz series will mold your preparations in the right direction and the regular practice of these quizzes will be really very helpful in scoring good marks in the Examination. Here we are providing you the important question of reasoning ability for the IBPS & SBI Exam.
Q1-10.Read the following passage carefully and answer the questions given below it. Certain words have been given in bold to help you locate them while answering some questions.
A dividend payment of Rs. 66,000-crore from the Reserve Bank of India, the highest in its 80-year history, helped tip India’s fiscal balance to surplus in August. A combination of the pick-up in the Centre’s revenue receipts and its declining expenditures, especially on subsidies, helped keep the fiscal deficit during the first five months of the current financial year under Rs. 3.7 lakh crore, lower than the Rs. 3.97 lakh crore during the corresponding period last year. The Central government’s unfailing commitment to fiscal consolidation is conducive to macroeconomic stability. But sticking to the road map for fiscal consolidation isn’t easy: expenditure and tax reforms can be tricky politically. In its budget for this year, the government had shifted India’s fiscal consolidation road map by raising the fiscal deficit target for the year to 3.9 per cent from 3.6 per cent earlier. By doing so it created fiscal room for Rs. 70,000 crore of public investments, which it hopes would kick-start the jobs-generating infrastructure sector.
Earlier governments too postponed targets. The fiscal deficit reduction targets that were originally a part of the Fiscal Responsibility and Budget Management (FRBM) Bill, 2000 were eliminated from the Act that Parliament passed in 2003; the annual numerical targets were left to the government to formulate in the FRBM Rules. Since then, the road map has been halted four times — in 2005-06, 2008-09, 2012-13 and 2015-16. And so the resolve that the Union Finance Secretary expressed at a media conference last week — that though the government expects a shortfall in tax revenues this year it won’t deviate from the 3.9 per cent fiscal deficit target — is welcome.
With inflation now under 4 per cent, interest rate cuts adding up to 125 basis points in the past 12 months, and the Centre and the States going all out to revive stalled projects and improve the ease of doing business, India remains well-poised on the path to economic recovery. Fiscal credibility, important as it is to macroeconomic management, will make it possible to sustain India’s current growth rate and to convert potential into actual growth. The focus will be on the budget-makers’ tricks of funding subsidies through non-transparent, off-budget borrowings or higher taxes on fuel and so on. The Finance Minister has undertaken to clean up the clutter of tax incentives for the corporate sector to plug revenue leakages, in order to set the stage for lower tax rates. He is bound to find the business lobbies less enthusiastic about giving up sops, and must resist pleas for their retention. He will have to be insusceptible too to excuses for delaying even further the urea prices de-control and other such expenditure-side reforms. On the road to fiscal correction, Finance Ministers walk, and are judged, alone.
Q1.What prompted government to take action for fiscal consolidation ?
01. pick-up in the Centre’s revenue receipts
02. Declining expenditures
03. It is conducive to macroeconomic factors
04. It has created fiscal room for Rs. 70,000 Cr of public investments
05. All of the above
Q2.Why the Finance Minister has tried to crackdown the clutter of tax incentives for the corporate sector, which point is true regarding above mentioned point ?
01. To plug revenue leakages
02. To set the stage for lower tax rates
03. To create a fiscal correction
04. Expenditure-side reforms
05. All of the above
Q3.What is/are the benefits of controlled Inflation?
01. The Centre and the States going all out to revive stalled projects
02. Not effective for the ease of doing business
03. India remains slow on the path to economic recovery.
04. Not important for sustained growth rate
05. It is not important for micromanagement
Q4.Which of the following is suitable title of the Passage ?
01. Fiscal consolidation a road map
02. Inflation control a tool
03. Fiscal credibility of India
04. Tax incentive a good measure
05. Unfailing commitment to fiscal consolidation
Q5.Fiscal deficit during the first five months of the current financial year is lower by how many rupees than during the corresponding period last year?
01. .27 lakh
02. .24 lakh
03. .23 lakh
04. .24 lakh
05. .20 lakh
Q6.Which iof the following words is/ are the most similar to the word 'Kick-Start' as given in the passage.?
01. Spur
02. Mollify
03. Soothe
04. Alleviate
05. Stimulus
Q7.Which of the following options is the most similar in meaning with the word ' lobbies' as given in the passage ?
01. foyers
02. Mediator
03. Facilitator
04. Promoters
05. Protagonist
Q8.Which of the following options is most opposite in meaning to the word 'credibility; as given in the passage?
01. Authority
02. Standing
03. Sincerity
04. Integrity
05. Improbability
Q9.Which of the following options is the most OPPOSITE in meaning to the word 'consolidation' as given in the passage ?
01. Alliance
02. Merging
03. Fraction
04. Fragmentation
05. Division
Q10.Which of the following sentence is/are NOT TRUE in context of the passage?
01. tax revenues this year won’t deviate from the 3.9 per cent fiscal deficit target
02. inflation now is under 4 per cent
03. A dividend payment of Rs. 66,000-crore from the RBI is the lowest in its 80-year history
04. Only 3
05. Both 1 and 2
Answers:-
Q.1 (5)
Q.2 (5)
Q.3 (1)
Q.4 (1)
Q.5 (1)
Q.6 (5)
Q.7 (1)
Q.8 (5)
Q.9 (4)
Q.10 (4)
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