Study Hour'ss

Monday, June 19, 2017

ENGLISH: CLOZE TEST

TRADERS are not usually a cheery lot. But they seemed more than pleased last November when Donald Trump stunned pollsters to ___(1)___have won the presidency. Although most of his policy proposals were ____(2)___haze at the time, he did express a few consistently that cheered markets: they liked his plans to increase government spending, especially on infrastructure,___(3)___ while cutting tax and regulation. Optimists were creative with their praise of Mr Trump’s plans: some described them as Keynesian; others thought them Reaganesque. In what came to be known as the “Trump trade”, the financial markets believed that Mr Trump’s policies ____(4)____would have boost corporate earnings. They believed that fiscal stimulus would require the Federal Reserve to push up interest rates to stop the economy from overheating and control inflation. The prospect of higher growth and real bond yields, at least for a time, caused the dollar to ___(5)___increase. All of this though, hinged on the belief that Mr Trump, a political tyro who had declared war on the establishment, could navigate the byzantine politics of Washington, DC. But as a _____(6)____lot of scandals emerged from the White House, traders have begun to doubt the Republicans’ ability to pass legislation. On May 9th the president ______(7)______suddenly fired James Comey, then head of the FBI, deepening such concerns. Many wonder whether anything can be passed at all.Betting markets _______(8)______reckon that Mr Trump’s chances of passing a corporate-tax cut bill this year fell from 56% to 42% by May 10th. Although stockmarkets remain at an all-time high, other indicators more sensitive to Mr Trump’s promises have started to reverse course. Both the dollar and short-term inflation expectations have fallen. The Mexican peso, which _____(9)_____increased immediately after Mr Trump’s election because of fears of a potential trade war, has recovered. Data from Goldman Sachs, a bank, show that when Mr Trump was first elected, the stocks of certain companies did especially well: those paying high tax rates, and those working in the construction and engineering industries outperformed the overall market index. But as the president’s chances of pushing through his policies have waned, so too have these firms’ fortunes in the market. In hindsight, traders should have been more ______(10)_____insightful that a Beltway outsider could radically shake up Washington. Who knew that public policy could be so complicated?

1. (a) won

(b) have won

(d) have been winning

(e) No Change Required

Ans: (c) win

2. (a) disposed

(b) muddled

(d) methodical

(e) No change required

Ans: (b) muddled

3. (a) inspite of being

(b) despite

(d) although

(e) No change required

Ans: (e) No change required

4. (a) should

(b) will

(d) would

(e) No change required

Ans: (d) would

5. (a) soar

(b) stoop

(d) slump

(e) No change required

Ans: (a) soar

6. (a) buildup

(b) barrage

(d) conflict

(e) No change required

Ans: (b) barrage

7. (a) unexpectedly

(b) expectedly

(d) deliberately

(e) No change required

Ans: (a) unexpectedly

8. (a) reckoning

(b) estimate

(d) Evaluvation

(e) No change required

Ans: (e) No change required

9. (a) upsurged

(b) sprouted

(d) plunged

(e) No change required

Ans: (c) plummeted

10. (a) Scoffing

(b) doubt

(d) suspicion

(e) No change required

Ans: (c) sceptical

ENGLISH: COMPREHENSION

Through its eight decades as the governing body, the Board of Control for Cricket in India lived up to the “control” in its name, often placing that aspect above all else.

The body as a whole, if not an individual, was in control and there was no confusion over who made the decisions, right or wrong. Some individuals were benevolent dictators, others merely benevolent and still others outright dictators.

Power tended to be in the hands of one individual — sometimes it was the president, at other times it was the secretary, and once it was even the man who introduced the IPL. Corruption — not always financial — followed such concentration of power.

The Supreme Court’s necessary intervention eliminated some of the ills, and through the Lodha Committee report, guaranteed the removal of many more. But it also led to extra layers of administration; it has now become difficult to figure out who is in charge.

Is it C.K. Khanna, the acting president, who was characterised by Justice Mukul Mudgal in his report to the High Court as a “pernicious influence” responsible for the “major ills” of the DDCA?

Is it the depleted Committee of Administrators, whose task it is to oversee the transition in the BCCI?

Are all answers in the Lodha Committee report — and if so, do we need clarifications and answers to frequently asked questions?

The recent (and continuing) muddle over the appointment of the national coach brings all the shortcomings in the system into sharp focus.

That the coach’s term was running out at the end of the Champions Trophy was known a year ago. Still, like municipal bosses in our cities who are surprised every year when the monsoons arrive, the BCCI behaved as if caught off guard. There was no attempt to be proactive and either decide on a new coach or give the incumbent his well-deserved extension.

This is not about Anil Kumble or Virender Sehwag or Ravi Shastri or any of the claimants to the post. They are professional men engaged elsewhere and need to know in advance if the plan is to have one of them take charge till the end of the 2019 World Cup. A matter of courtesy if nothing else.

By putting out stories in the media and hoping that Kumble would resign in disgust, the BCCI which has always felt uncomfortable by the no-nonsense approach of the great Indian bowler, has now painted itself into a corner.

Not so long ago, the Kumble-Kohli row was the headline grabber. Now the narrative has changed, and the current tune being sung is the lack of any problem between the captain and coach. Even the head of the CoA who was in England and met the two of them has said that he didn’t notice any rift.

The CoA has announced that Kumble will continue till the end of the short tour of the West Indies — something that ought to have been made clear to him well before the Champions Trophy.

It was a sensible call, but is that a part of the CoA’s remit? How does that fit in with its main responsibility of overseeing the transition?

C.K. Khanna, meanwhile, has said in a letter to the acting secretary that the selection of the coach should be deferred till the end of the West Indies tour. Again, a sensible call, but why could that not have been made earlier and before stories of the rift began to muddy the waters?

And where does that leave the Cricket Administrative Committee, another layer as far as the selection of the coach is concerned? The CAC was brought in by the earlier dispensation in the BCCI to give itself a modicum of respectability.

Sachin Tendulkar, Sourav Ganguly and V.V.S. Laxman, three of the country’s finest, spent most of their tenure unsure about what they were meant to do. And then came the idea of these experienced men choosing the national coach. It gave them something to do apart from making the BCCI appear somewhat less political.

The CAC wants more time to choose Kumble’s successor, aware perhaps that it threw its weight behind him originally and the results do not cry out for a change. That overlapped with the BCCI president’s thinking too.

There was a suggestion meanwhile that the BCCI decide on the coach at its Special General Body Meeting on June 26. But that is not on the agenda now.

Indian cricket’s alphabet soup – BCCI, CoA, CAC, SGB – might have been funny in another context. But who is meant to do what and to what deadline seems to be unclear. It is a lack of clarity that plays into the hands of those who brought the BCCI to this sorry pass.

According to the Lodha Committee, the coach should be chosen by the national selection committee. If the June 26 meeting has been called to discuss the implementation of the report, there might be another twist in the tale yet.

1. Select the option which is SIMILAR to the word MODICUM

(a) small amount

(b) total

(d) absolute

(e) None of these

Ans: (a) small amount

2. Select the option which is SIMILAR to the word PERNICIOUS

(a) healthy

(b) helpful

(d) hurtful

(e) None of these

Ans: (d) hurtful

3. Select the option which is OPPOSITE to the word MUDDLE

(a) Chaos

(b) Mess Up

(d) Coarse

(e) None of these

Ans: (c) Calm

4. What does the idiom ” Muddy the waters ” implies ?

(a) Disorganize the team

(b) Appease the conversation

(d) Rearrange the water

(e) Confuse the issue

Ans: (e) Confuse the issue

5. What does the author mean by the word ” Alphabet soup” in the passage ?

(a) Committee of Administrators

(b) The confused assortment of BCCI

(d) The Coach-Captain conflict in the team

(e) None of these

Ans: (c) Array of Acronyms related to Indian Cricket

6. What did the intervention of the Supreme Court do the BCCI ?

(a) Removed the extra layers in the administration

(b) Gave auxiliary competence to the President

(d) Removed the shortcomings in the system

(e) Both (B) & (C)

Ans: (c) Added extra tier to the administration

7. According to the Lodha committee who should choose the Coach ?

(a) Committee headed by the former players

(b) Head of CoA

(d) Secretary Of BCCI

(e) None of these

Ans: (c) National Selection Committee

8. Who spent most of the tenure about what to do ?

(a) BCCI Secretary

(b) The Committee Of Administrators

(d) Sachin , Ganguly and Laxman

(e) Both (b) & (d)

Ans: (d) Sachin , Ganguly and Laxman

9. What does the author tries to convey with the idiom ” painted itself into the corner ”

(a) Avoided the troubles

(b) Confused the whole process in the organization

(d) Excluded themselves from that place

(e) None of these

Ans: (c) Put itself in a helpless situation

10. What are the dominant problems discussed in this passage ?

(a) Appointment of a new coach

(b) Monopoly of the Captain

(d) Both (a) & (b)

(e) Both (a) & (c)

Ans: (e) Both (a) & (c)

THE HINDU EDITORIAL – June 17, 2017

(A) Deep-sea dive

Reliance Industries’ and BP’s joint investment of ₹40,000 crore in the KG-D6 gas block has important implications for the oil, gas and renewable energy sectors in terms of technological development, supply line infrastructure and pricing policy. The investment assumes a projected gas yield of 30 to 35 million cubic metres a day from the fields, and accompanies an overall partnership between the two companies in low-carbon and renewable energy, as well as in fuel retailing. With the last big investment in the sector being BP’s purchase of a 30% stake in some of RIL’s oil and gas production-sharing contracts in 2011, this pact signals a growing comfort with and acceptance of the Centre’s new gas pricing policy, which includes a mechanism for higher rates for gas from deep and ultra-deep wells. The proposed investment also brings into sharp focus the 2014 arbitration case the companies had filed against the government regarding gas pricing. Given the Centre’s current stance, the partners will not be able to derive benefit from the new gas pricing formula till the legal spat is resolved. The RIL-BP partnership also seeks to build capabilities across the entire oil and gas value chain. Thursday’s announcement that the two partners would explore opportunities in fuel retailing too was significant, coming as it did a day before the country moved to a dynamic pricing policy involving daily price revisions. Petroleum and Natural Gas Minister Dharmendra Pradhan had invited the two companies to invest in fuel retailing, and their agreement suggests optimism over the outlook for the pricing regime.Conventional energy companies worldwide are realising that traditional markets are diminishing, and sources of conventional energy such as coal mines and gas fields becoming more expensive to operate. The RIL-BP plans to explore opportunities in renewable energy should be viewed against that backdrop. The two companies, in their search for new sources of conventional energy, have developed expertise that could be applied in the renewable energy space. BP has been operating deep and ultra-deep wells for years and has the infrastructure and technology to operate in high-risk, difficult locations. One possible opportunity for the companies is to exploit this know-how and develop offshore wind installations across the KG-D6 block. A company used to drilling at ultra-deep locations should not find it difficult to set up the foundations for offshore windmills at these sites. And it is not that big a jump to get electricity supply lines running alongside pre-existing oil and gas pipelines. With offshore wind installations virtually non-existent in India, the area offers an untapped market that the government would be keen to see exploited. While details of the investment plan have not been presented, the scale of the funds involved, coupled with attractive pricing and FDI policies, may well help draw more global oil and gas majors to the Indian market, upstreamand downstream.

(B) Book of jobs

The government has begun field work to compile a new Periodic Labour Force Survey to track employment trends more swiftly, in order to generate quarterly reports on the urban labour market situation and annual dossiers on the overall employment scene. With well over 80% of the workforce employed informally (with no contractual rights), Statistics and Programme Implementation Minister D.V. Sadananda Gowda’s assertion that the Survey will also attempt to capture such workers’ employment status is welcome. Prime Minister Narendra Modi is now expected to meet officials, including Niti Aayog Vice-Chairperson Arvind Panagariya, to discuss issues related to job creation and the recommendations of a task force set up to officially capture the employment status of India’s workforce more effectively. The task force had been constitutedamid a growing sense of concern, even within industry, about the lack of adequate jobs created and fresh talk of ‘jobless growth’. The only official job data available, based on surveys conducted by the Labour Bureau since late 2008, have painted agloomy picture on new jobs for the world’s youngest workforce in the first two years of the Narendra Modi government. India’s employment data are far from robust and not timely enough to enable meaningful policy responses for emerging job market realities. Government officials too have questioned the reliability of the Labour Bureau exercise that covers only a few sectors in select States. Niti Aayog member Bibek Debroy, for instance, has said that existing jobs data can be used to claim both ‘growth-less jobs’ and jobless growth, given India’s largely informal economy. The task force is considering the use of proxy measures such as car sales to incorporate informal employment generation into the official narrative. How the recommendations of the task force will be incorporated into the new labour force survey, for which work began in April, needs to be seen. While it is never too late to spruce up statistical systems, the timing of this exercise is odd. Chief Statistician T.C.A. Anant expects the results of the first Survey, awaiting approval for more than a year, to be released by December 2018. The most comprehensive existing employment survey conducted quinquennially by the National Sample Survey Office has not been done since 2011-12. The UPA government had commissioned an out-of-turn survey then as the 2009-10 survey presented an overtly gloomy job market in the aftermath of the global financial crisis. In contrast, the NDA government will go to the next Lok Sabha polls having released just one comprehensive labour force survey, close to the end of its term. Importantly, given the new coordinates, the Survey may not be strictly comparable with past data.

1) Comfort

Meaning: Something that makes your life easy and pleasant.

Example: After the trip, it was nice getting back to a few home comforts.

Synonyms: Ease

Antonyms: Discomfort

2) Spat

Meaning: A short argument, usually about something that is not important.

Example: People expected him and his wife to spat continually.

Synonyms: Quarrel, Disagree

3) Resolved

Meaning: Decide firmly on a course of action.

Example: She resolved to ring Dana as soon as she got home.

Synonyms: Determine, Decide

4) Optimism

Meaning: Hopefulness and confidence about the future or the success of something.

Example: The talks had been amicable and there were grounds for optimism.

Synonyms: Hope, Confidence

Antonyms: Pessimism

5) Outlook

Meaning: A view; The likely future situation.

Example: The deteriorating economic outlook.

Synonyms: Prospects, Expectancy

6) Regime

Meaning: A system or ordered way of doing things.

Example: Detention centres with a very tough physical regime.

Synonyms: System, Arrangement

7) Expertise

Meaning: A high level of knowledge or skill.

Example: She has considerable expertise in French history.

Synonyms: Skill, Expertness

Antonyms: Incompetence

8) Exploit

Meaning: To use something in a way that helps you; Make full use of and derive benefit from (a resource).

Example: 500 companies sprang up to exploit this new technology

Synonyms: Utilize, Make use of

9) Offshore

Meaning: Move (some of a company’s processes or services) overseas.

Example: He predicts that 750,000 UK jobs will be off shored in the next 10 years

10) Upstream

Meaning: At a stage in the process of gas or oil extraction and production before the raw material is ready for refining.

Example: The Company’s upstream business includes oil exploration and production.

11) Downstream

Meaning: At a stage in the process of gas or oil extraction and production after the raw material is ready for refining.

Example: We may make gains with respect to oil and gas and downstream energy products

12) Dossiers

Meaning: A collection of documents about a particular person, event, or subject.

Example: We have a dossier on him.

Synonyms: File, Report

13) Assertion

Meaning: A statement that you strongly believe is true.

Example: I certainly don’t agree with his assertion that men are better drivers than women.

Synonyms: Contention, Declaration

14) Amid

Meaning: Surrounded by; in the middle of.

Example: Our dream home, set amid magnificent rolling countryside.

Synonyms: Among

15) Concern

Meaning: To be important to someone or to involve someone directly; A cause of anxiety or worry.

Example: Matters of pollution and the environment concern us all.

Synonyms: Involve, Affair

16) Gloomy

Meaning: Dark or poorly lit, especially so as to appear depressing or frightening.

Example: gloomy forecasts about the economy.

Synonyms: Not hopeful, Despondent, Downcast

Antonyms: Optimistic

17) Reliability

Meaning: The quality of being trustworthy or of performing consistently well.

Example: The car’s background gives me every confidence in its reliability.

18) Spruce

Meaning: Make someone or something smarter or tidier.

Example: The fund will be used to spruce up historic buildings.

Synonyms: Smarten up

19) Quinquennially

Meaning: Recurring every five years.

Example: They conducted quinquennial reviews.

20) Out-of-turn

Meaning: To say something that you should not have said.

Example: I’m sorry if I spoke out of turn, but I thought you already knew.

21) Aftermath

Meaning: The period that follows an unpleasant event or accident, and the effects that it causes.

Example: Many more people died in the aftermath of the explosion.

Synonyms: Outcomes and consequences

Pages

Monday, June 19, 2017

ENGLISH: CLOZE TEST

ENGLISH: COMPREHENSION

THE HINDU EDITORIAL – June 17, 2017