English Reading Comprehension Quiz for SBI PO Mains
Directions
(1 – 8): Read the passage given below and then answer the questions given below
the passage.
The Goods and Services
Tax (GST) Council failed to reach a consensus on critical issues, including the
laws that need to be passed in the winter session in order to stick to the
April 1, 2017 rollout date set by the Centre. With the pending legislations,
including the draft model GST law, as well as the contentious issue of dual
administrative control over assesses between the Centre and the States
remaining unresolved, the GST Council would now meet on December 11 and 12.
While the effect of demonetization on the economy and on the states is outside
the purview of the GST Council, Mr. Jaitley said that, on the behest of the
state representatives, he wrapped up the Council meeting early and allowed the
states to voice their grievances on demonetization. Some of the states, the
minister said, suggested an increase in the Fiscal Responsibility and Budget
Management targets while others called for a relaxation of the ways and means
limits. “Our target is still April 1, and our options are anyway limited,” Mr.
Jaitley said. “The earliest we can bring it in is April 1 and the latest is
September 16, which is five months and 15 days later.” “I am happy that all the
states raised their voices on demonetization,”
West Bengal Finance
Minister Amit Mitra told reporters following the meeting. “Because revenue will
be affected, all states are deeply concerned about compensation since
earlier compensation was based on the single issue of GST. Now there is the
dual issue of GST and demonetisation.” Earlier in the day, Kerala Finance
Minister Thomas Isaac said that demonetization would result in a fall in
production worth Rs. 2.5 lakh crore, adding that the cash crunch would also
impact state revenue. “Tax collection can be 50 per cent lower this month as
there is no business in Delhi markets,” Manish Sisodia, Deputy Chief Minister of
Delhi tweeted on Saturday. “If so, it would be hard to pay salaries of govt
employees… same concern is being expressed by many state FMs in the GST council
in the presence of Finance Minister.” “One would hope that there would be
headway in the next Council meeting. It looks increasingly difficult to get the
GST laws passed in the winter session of the Parliament.
And if that doesn’t
happen, then April 1 looks unlikely,” said Pratik Jain, partner and leader
(indirect tax) at PwC India, stressing that this is a disappointing outcome for
industry. “We went over the central GST and state GST draft legislation clause
by clause,” the finance minister said. “Nine chapters in each of the
legislations were discussed. We are moving towards a consensus on the laws. We
will discuss them further on December 11 and 12.”
1. What is the main idea of the given passage?
A) NSC Council fails to reach
consensus on key issues.
B) The effect of demonetization on
the economy.
C) GST Council fails to reach
consensus on key issues as a consequence of the demonetization move.
D) Roll out date set by the Center.
E) The laws that need to be passed in
the winter session.
2. What according to the passage is outside the
purview of the GST Council?
A) The revenue generated from the
economy and the states.
B) The positive effects of
demonetization on the economy.
C) The betterment of the citizens.
D) The cancellation of parliamentary
sessions.
E) The effect of demonetization one
economy and the states.
3. With what agenda would the GST Council meet on
December 11 and 12?
A) To get the bill ultimately passed
with the majority consensus.
B) To resolve the cash crunch.
C) To discuss on the issue of
production of goods in the economy.
D) With the draft model of the GST
law, and the issue of dual administrative control between the Centre and the States.
E) With the draft model law of the party in power.
4. In the context of the passage, what can be
inferred about the view of Finance Ministers of the States in relation to the
demonetization move?
A) They have welcomed it with
enthusiasm.
B) They are indifferent about it.
C) They want to see a long term
effect of the move before they react to the move.
D) They are unhappy with it.
E) Cannot be inferred from the given
passage.
5. In which of the following are you likely to
find the above passage?
A) Newspaper report.
B) An academic thesis.
C) A piece of fiction.
D) A book on political science.
E) None of the above.
6. What were the grievances voiced by the states
on demonetization?
A) An increase in the Fiscal
Responsibility.
B) A relaxation of the ways and means
limits.
C) The cash crunch needed to be
highlighted.
D) A suggestion of increase in the
Fiscal Responsibility and Budget Management targets as well as relaxation of
the ways and means limits.
E) The people should be given extra
money
7. How according to the Kerala Finance Minister
would demonetisation impact State revenue?
A) It would not impact state revenue for
atleast a month.
B) It would never impact state
revenue.
C) Demonetization would result in a
production loss of Rs. 2.5 lakh crore, affecting state revenue.
D) Demonetization would result in a
production loss of Rs.5 lakh crore.
E) the cash crunch would have a mild
impact on the state revenue.
8. What concern is being expressed by the Finance
Ministers of Delhi in the GST council?
A) It would be easy to pay salaries
of govt employees.
B) Itwould be hard to pay salaries of
govt employees.
C) Tax collection can be 25 per cent
lower this month.
D) Tax collection can be 75 per cent
lower this month.
E) Tax collection can be 50 per cent
lower making it hard to pay salaries of the government employees.
Directions
(9 – 10): Rearrange the following six sentences/ group of sentences (A), (B),
(C), (D) (E) and (F) in the proper sequence to form a meaningful paragraph;
then answer the questions given below them.
A. The theme for this event is
“Hydrocarbons to fuel the future - Choices and Challenges”.
B. Prime Minister Shri Narendra Modi
will inaugurate India’s flagship biennial international oil and gas conference
and exhibition, PETROTECH-2016 on December 5.
C. Petrotech is Asia’s largest oil and
gas event.
D. Petrotech Conference will comprise a
gamut of enriching programmes such as Ministerial Sessions, Ministerial
Conclave, Plenary Sessions, Theme Sessions and Technical Sessions.
E. This global event aims at bringing
Energy Ministers, industry leaders, professionals, academicians and domain
experts from the energy sector on a common platform.
F. Bringing them on the same platform
will facilitate exchange of ideas, sharing of experience, knowledge and
technological development across various segments of hydrocarbon industry and
opportunities for business collaborations.
9. Which of the following should be the SECOND sentence after rearrangement?
A) F
B) E
C) D
D) C
E) B
10. Which of the following should be the FOURTH sentence after rearrangement?
A) F
B)D
C) B
D) E
E) C
Answers:
1. C) The entire passage talks about how
the GST Council failed to reach a consensus on critical issues. It further says
that the demonetization move has been a major cause which has led to this. It
has been discussed in the passage that due to demonetization, the production as
well as the tax collection could be lower. Thus, option (C) conveys the main
idea of the passage.
2. E) According
to the first paragraph of the passage, 'While the effect of demonetization on
the economy and on the states is outside the purview of the GST...'. Thus,
option (E) is the best fit answer.
3. D) It
has been stated in the first paragraph of the passage, 'With the pending legislations, including the draft model GST
law, as well as the contentiousissue of dual administrative control over
assesses between the Centre and the States remaining unresolved, the GST Council
would now meet on December 11 and 12.' This indicates that option (D)
is the best fit answer.
4. D) The
second paragraph of the passage talks about the opinions of the Finance
Ministers of the States on how the demonetization move would affect the GST.
From the statements of the ministers, it can be inferred that they are not very
happy with the move as it would have several negative consequences which
includes: a fall in production... leading to cash crunch; a fall
in production; and difficulty in paying salaries of govt employees. Thus,
option (D) is correct in the given context. None of the other options are
either given or can be inferred from the given passage.
5. A) The
given passage gives a report on the the GST Council that failed to reach a
consensus on critical issues and how is it related to the demonetization move.
The passage is a factual account and reports events as well as statements and
opinions of several authoritative figures concerned with the matter. Thus,
option (A) is the best fit answer and all other options are irrelevant.
6. D) According
to the first paragraph of the given passage, some of the states,
suggested an increase in the Fiscal Responsibility and Budget Management
targets while others called for a relaxation of the ways and means
limits. So option (D) is the correct answer. Option 1 does not give a
complete answer and can be eliminated.
7. C) According
to the second paragraph of the give passage, Kerala Finance Minister
Thomas Isaac said that demonetization would result in a fall in production
worth Rs.2.5 lakh crore, adding that the cash crunch would also impact state
revenue. Thus, option (C) is the best fit answer.
8. E) According
to the passage,“Tax collection can be 50 per cent lower this month as there
is no business in Delhi markets,” Manish Sisodia, Deputy Chief Minister of
Delhi tweeted on Saturday. “If so, it would be hard to pay salaries of govt
employees… same concern is being expressed by many state FMs in the GST council
in the presence of Finance Minister.” So option (E) is the right answer.
(9 – 10):
The passage is about
Petrotech, an event. Since sentence B states that the prime minister of India
is inaugurating it and also gives the date for the event, sentence B should be
the first sentence of the passage. Sentence C states its importance on the
international level and should come in the second position.
The rest of the sentences
are descriptions of the event's various programs. Sentence A states the event's
theme for the given year and should come in at the third position, right after
the stating of its inauguration time and its importance but before the further
description of its agenda. The event's aim is discussed in sentence E which
comes in at the fourth position. Since this sentence talks about the mingling
of various experts, how these experts will be able to mix and exchange their
ideas is explained in sentence F, which becomes the fifth sentence. 'Here
'them' refers to set of people mentioned in statement E. Sentence D
explains the various programs that will take place allowing the exchange of
ideas. Thus it becomes the sixth sentence.
So the correct order of
the sentences is BCAEFD.
9. D) 10. D)
