Hello and welcome to exampundit . Here is a set of English Quiz for upcoming RBI Grade B Phase I and BMSB PO 2016 Exams.
Directions (Q. 1-5):
Read the following passage carefully and answer the questions given below it.
Read the following passage carefully and answer the questions given below it.
To appreciate the challenge that
India faces in generating adequate employment over the next three decades, it
is useful to examine two scenarios for the worker population ratio (WPR), which
is the ratio of workers to the population of men and women. In the first
scenario, the WPR remains fixed at the rate estimated by the National Sample
Survey in 2011-12 through 2040. In the second scenario, after 2015, the male
WPR rises by 2.5% every five years, while the female WPR increases by 5% (due
to the much lower current female WPR). Multiplying the WPR by the relevant
population statistics gives a reasonable estimate of the number of men and
women who might be in the job market up to 2040. The situation looks grim even if the WPR remains fixed. An
additional 30 million jobs will need to be created between 2010 and 2015—which
will not happen given the depressed economy and that only 2.7 million extra
jobs were added between 2004-05 and 2009-10. As it stands today, India has
neither the growth nor the required institutional flexibility to create 6
million extra jobs per year up to 2015 and over 5 million per year from 2015 to
2025.
India faces in generating adequate employment over the next three decades, it
is useful to examine two scenarios for the worker population ratio (WPR), which
is the ratio of workers to the population of men and women. In the first
scenario, the WPR remains fixed at the rate estimated by the National Sample
Survey in 2011-12 through 2040. In the second scenario, after 2015, the male
WPR rises by 2.5% every five years, while the female WPR increases by 5% (due
to the much lower current female WPR). Multiplying the WPR by the relevant
population statistics gives a reasonable estimate of the number of men and
women who might be in the job market up to 2040. The situation looks grim even if the WPR remains fixed. An
additional 30 million jobs will need to be created between 2010 and 2015—which
will not happen given the depressed economy and that only 2.7 million extra
jobs were added between 2004-05 and 2009-10. As it stands today, India has
neither the growth nor the required institutional flexibility to create 6
million extra jobs per year up to 2015 and over 5 million per year from 2015 to
2025.
Things get worse under the second
scenario, which incorporates the
more realistic assumption that, armed with a better education, the percentage
of men and women joining the labor force will be higher. Under this setting,
India will need to find 44 million additional jobs between 2015 and 2020 at an
annual rate of a little less than 9 million. These numbers are not exact, but
they underscore the urgent need to create much wider employment in the coming
years. There are those who believe that India can never hope to achieve
significantly higher employment without the freedom to fire. However, India has
reasonable labor market flexibility. The vast unorganized sector, which
accounts for more than 90% of India’s approximately 470 million workers, has no
entry or exit barriers.
scenario, which incorporates the
more realistic assumption that, armed with a better education, the percentage
of men and women joining the labor force will be higher. Under this setting,
India will need to find 44 million additional jobs between 2015 and 2020 at an
annual rate of a little less than 9 million. These numbers are not exact, but
they underscore the urgent need to create much wider employment in the coming
years. There are those who believe that India can never hope to achieve
significantly higher employment without the freedom to fire. However, India has
reasonable labor market flexibility. The vast unorganized sector, which
accounts for more than 90% of India’s approximately 470 million workers, has no
entry or exit barriers.
Moreover, the legal constraints
that allegedly prevent extra hiring
in the organized sector—such as sections 25(N) and 25(O) of the Industrial
Disputes Act, 1947, or provisions of the Contract Labor (Regulation and
Abolition) Act, 1970—are often overstated. No doubt creating legal flexibility
can help. But the barriers to employment growth lie in an environment that is
increasingly cramping the country’s
growth potential. For example the telecom industry. On 2 February 2012, the
Supreme Court of India cancelled 122 mobile telecom licenses allegedly on
account of rigging to generate below-market prices. Since then, it has been
virtually impossible for the Telecom Regulatory Authority of India and the
department of telecommunications to allot additional permits and spectrum. An
employment-intensive sector, the slowdown has reduced its growth and its
potential for creating additional jobs. There’s a long list of sectors with
high employment elasticity that have
slowed on account of lower growth as well as judiciary and regulatory
overreach.
that allegedly prevent extra hiring
in the organized sector—such as sections 25(N) and 25(O) of the Industrial
Disputes Act, 1947, or provisions of the Contract Labor (Regulation and
Abolition) Act, 1970—are often overstated. No doubt creating legal flexibility
can help. But the barriers to employment growth lie in an environment that is
increasingly cramping the country’s
growth potential. For example the telecom industry. On 2 February 2012, the
Supreme Court of India cancelled 122 mobile telecom licenses allegedly on
account of rigging to generate below-market prices. Since then, it has been
virtually impossible for the Telecom Regulatory Authority of India and the
department of telecommunications to allot additional permits and spectrum. An
employment-intensive sector, the slowdown has reduced its growth and its
potential for creating additional jobs. There’s a long list of sectors with
high employment elasticity that have
slowed on account of lower growth as well as judiciary and regulatory
overreach.
1. Why does the author lay emphasis on employment
opportunity ?
opportunity ?
1) India is facing an alarming situation of widespread
unemployment.
unemployment.
2) A large number of people will be employed in coming
years.
years.
3) In recent years the problem has become a cause for grave
concern as it has started threatening our economic and social fibre.
concern as it has started threatening our economic and social fibre.
4) Both 2 and 3
5) All of the above
2. What, according to the author, is/are the factors
responsible for employment creation ?
responsible for employment creation ?
1) Entrepreneurship is a critical factor in the growth of
Indian economy.
Indian economy.
2) Economic policies of India.
3) Increasing rate of literacy.
4) All of the above
5) None of these
3. Which of the following is an adverse impact of
unemployment? Select the most appropriate option in the context of the given
passage ?
unemployment? Select the most appropriate option in the context of the given
passage ?
1) Over a prolonged period of time, this can become quite
problematic for rural population.
problematic for rural population.
2) The disruptive element of unemployment can leave
tremendously powerful scars on a man’s psyche.
tremendously powerful scars on a man’s psyche.
3) On a social level, unemployment results in a greater
distrust on government.
distrust on government.
4) Unemployment can cause a great deal of social stress in
terms of questioning job status on a mass scales, which can trigger a drop in
consumer spending causing less economic growth.
terms of questioning job status on a mass scales, which can trigger a drop in
consumer spending causing less economic growth.
5) All of the above
4. Which of the following is possibly the most appropriate
title for the passage ?
title for the passage ?
1) Employment vs. Unemployment.
2) Factors affecting employment in India.
3) Problem of tomorrow’s India.
4) Employing India.
5) Who creates job ?
5. Which of the following statement is definitely true as
given in the passage ?
given in the passage ?
1) The decline in elasticity has been truly alarming in
certain sectors.
certain sectors.
2) Across the world, incremental employment demand is
slowing quite significantly.
slowing quite significantly.
3) The current employment situation will not improve, and
India will never generate a demand for labor that is even vaguely in line with
its future supply.
India will never generate a demand for labor that is even vaguely in line with
its future supply.
4) The cause of unemployment is poverty.
5) None of these
Direction (6 – 8) :
Choose the word which is MOST OPPOSITE in meaning of the word printed in bold
as used in the passage-
Choose the word which is MOST OPPOSITE in meaning of the word printed in bold
as used in the passage-
6. Grim
1) Sunny 2) Encouraging 3) Horrible 4) Hopeless 5) Somber
7. Cramping
1) Restraining 2) Hampering 3) Objecting 4) Promoting 5)
Confining
Confining
8. Elasticity
1) Opportunity 2) Adaptability 3) Glaring 4) Flexibility 5)
Rigidity
Rigidity
Direction (9–10) :
Choose the word which is MOST SIMILAR in meaning of the word printed in bold as
used in the passage–
Choose the word which is MOST SIMILAR in meaning of the word printed in bold as
used in the passage–
9. Allegedly
1) Supposedly 2) Unlikely 3) Confining 4) Improbably 5)
Extraordinarily
Extraordinarily
10. Incorporate
1) Disperse 2) Disconnect 3) Include 4) Merge 5) Absorb
Regards
Team ExamPundit
