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Bank PO :: Test 141
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1 .

Direction (Q. 1 - 10) : Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you locate them while answering some of the questions.
India's most obvious and sustainable competitive advantage is in its enormous intellectual capital. It already produces the largest number of professionals in the world. This number can further grow manifold if the government and the private sector work together to upgrade the educational infrastructure in the country.
India is also blessed with favourable demographics. By the year 2025, India will have over 200 million people in the age group of 18 to 36 years. Even if a 100-million-strong trained workforce earns an average of $25,000 per head per year, the total annual revenue can be a mind-boggling $2.5 trillion per year. This is more than five times India's current GDP and nearly a third of the current GDP of the US.
If we achieve success in this one initiative, the resulting GDP multiplier can be really huge. But under the WTO, there are a number of barriers to realise this dream.
The major barriers are that the developed world under WTO today demands free flow of commodities, but does not grant free flow of people. The barriers to the flow of people are mainly of two kinds: visa restrictions and non-recogni-. tion of many Indian qualifications and competence certifications. Additionally, the US requires one to obtain extensive insurance cover before launching any professional service. This also delays the entrepreneurial plans of many Indian professionals who are forced to work for an established firm instead.
We must use all our negotiating power in WTO to achieve a lowering of these barriers and convert our intellectual capital into India's greatest asset.
We have to create a globally competitive industrial sector which produces goods of the highest quality. To achieve such global competitiveness, the next phase of economic reforms must emphasise on internal reforms. By doing this now, we can leverage on our position of strength.
We must also make the best use of our membership in the WTO. There are those who still debate whether India should be a part of the WTO gameplan or not. To my mind, that issue does not require any further debate. There can be no turning back,

India is ahead of any country in the world in terms of

A.    its advanced scientific research facilities. B.    its organised workforce.
C.    its intellectual manpower. D.    its work culture.
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2 .

According to the author, there is an immense scope to multiply the number of intellectuals in our country if

A.    the people are advised to pursue higher studies. B.    there is an advancement in the educational environment.
C.    government launches an awareness campaign. D.    the private sector puts in its-special efforts.
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3 .

Which of the following can be seen as a supporting factor for Indian workforce ?
(i) recognition of Indian education and specialisation worldwide
(ii) certain restrictions on the movement of workforce from one country to another
(iii) liberalised visa regime worldwide
(iv)timebound contract system in foreign countries

A.    (i). (ii)and (iii) only B.    (ii), (iii) and (iv)only
C.    (ii) and (iv) only D.    (i) and (iii) only
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4 .

What is seen as a hurdle for an Indian intellectual in starting his/her own business in the US ?

A.    They have to furnish bond of agreeing to harsh conditions. B.    They have to obtain bank guarantee for a given amount.
C.    They are not treated at par with its citizens. D.    None of these
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5 .

According to the author. India will gain immensely if

A.    free flow of manpower is allowed worldwide. B.    we are allowed to compete with the US industries.
C.    we abide by the WTO. D.    Both 1 and 4
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6 .

Which of the follow ing is true according to the passage ?

A.    WTO supports free flow of commodities worldwide. B.    India is second O P.I V to the US in terms of intellectual manpower.
C.    India has the largest population in the world. D.    There is little scope for upgrading the educational infrastructure in our country.
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7 .

According to the author, India should

A.    not join the WTO. B.    join the WTO.
C.    force the WTO to consider its terms or else reject it. D.    have a national debate on joining the WTO.
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8 .

Which of the following does not match with the suggestions given by the author in the passage ?

A.    Internal reforms should be our main focus now. B.    Our educational infrastructure needs betterment.
C.    Our industrial sector should be made strong enough to stand firm in the global context. D.    India should oppose free flow of commodities worldwide.
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9 .

What is the central theme of this passage ?

A.    Increasing Indias GDP B.    Liberalising the visa regime worldwide
C.    Converting intellectual capital into Indias greatest asset D.    Making WTO liberal towards the developing countries
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10 .

Direction : Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you locate them while answering some of the questions.
India's most obvious and sustainable competitive advantage is in its enormous intellectual capital. It already produces the largest number of professionals in the world. This number can further grow manifold if the government and the private sector work together to upgrade the educational infrastructure in the country.
India is also blessed with favourable demographics. By the year 2025, India will have over 200 million people in the age group of 18 to 36 years. Even if a 100-million-strong trained workforce earns an average of $25,000 per head per year, the total annual revenue can be a mind-boggling $2.5 trillion per year. This is more than five times India's current GDP and nearly a third of the current GDP of the US.
If we achieve success in this one initiative, the resulting GDP multiplier can be really huge. But under the WTO, there are a number of barriers to realise this dream.
The major barriers are that the developed world under WTO today demands free flow of commodities, but does not grant free flow of people. The barriers to the flow of people are mainly of two kinds: visa restrictions and non-recogni-. tion of many Indian qualifications and competence certifications. Additionally, the US requires one to obtain extensive insurance cover before launching any professional service. This also delays the entrepreneurial plans of many Indian professionals who are forced to work for an established firm instead.
We must use all our negotiating power in WTO to achieve a lowering of these barriers and convert our intellectual capital into India's greatest asset.
We have to create a globally competitive industrial sector which produces goods of the highest quality. To achieve such global competitiveness, the next phase of economic reforms must emphasise on internal reforms. By doing this now, we can leverage on our position of strength.
We must also make the best use of our membership in the WTO. There are those who still debate whether India should be a part of the WTO gameplan or not. To my mind, that issue does not require any further debate. There can be no turning back,

Direction : Choose the word which is the same in meaning as the word given in bold as used in the passage.

Q. SUSTAINABLE

A.    time-bound B.    fascinating
C.    maintainable D.    unique
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