Remedial English Test Series 48

Remedial English Test Series 48

          Identify  the ONE mistake in each line and make corrections    (1 mark for each correct answer. Total score   ___ )

 1 Prime Minister Narendra Modi’s move to curb unaccount  cash, or black money, circulating in the Indian economy by
02 Withdraw  the highest-value currency notes of Rs.500 and Rs.1,000 as legal tender within three-odd hours of the
03 announcement, is a bold one. He invoke  provocative imagery to explain the measure — of corrupt officials stashing
04 kilos of ill-gained cash under their mattresses, and such illicit black money fuel  inflation as well as terrorism. He
05 pointed out how difficulty  it is for honest taxpayers to buy a house as the real estate sector seldom operates without a
06 cash component, some of which finds its way to political funding. The increase in the circulate  of these notes in the
07 past five years has been disproportion  to the economy’s growth. The introduction of new Rs.500 and Rs.2,000 notes,
08  the government argues, would not only check counter  currency, a problem that has assumed serious dimensions,
09 but also purge India’s economy of the black wealth amass  in the form of high-value notes. Any decision like this
10 needs to be sudden, and it is not surprise  that it has caused hardship as people scramble to get notes of smaller
11 denomination for daily expenditure. The only defence for this is that the larger publics  purpose outweighs the immediate
12  difficulties. Having promise   during the 2014 election campaign to bring back black money worth lakhs of crores
13 Supposed  stashed abroad, the NDA government has been under pressure to do something dramatic. The two
14 amnesty schemes it launched over the past year, include  one for foreign assets, didn’t yield anything near the 23.2
15 per cent of GDP that the World Bank had estimated India’s shadow economy to be in 2007. Today that would be near
16 $479 billion in unaccount  wealth, according to rating agency Crisil. While there will be pain and confusion in the
17 short term for common people and the economy, a disruptive measure was perhaps the only way to shaken  up the
18 system to a new compliance normal. But the Centre must ensure that no poor person is saddle  with old, useless
19 notes  due to the lack of official identity documents or a bank account, and avoid put  to disadvantage older citizens
20 unable to visit a bank repeated  to exchange high-value notes. It should find ways to check black money parked in
21 benami properties (possible  through a digital land and realty inventory) and gold. There must also be administrative
22 and electoral reforms to advance digital payments and eliminates  the prospect of the new currency regime
23   spawn the  ghost economy afresh. (The Hindu, 10 Nov 2016).

 KEY TO Remedial English Test Series 48 Note the correct answers below

 1 Prime Minister Narendra Modi’s move to curb unaccounted cash, or black money, circulating in the Indian economy by
02 withdrawing the highest-value currency notes of Rs.500 and Rs.1,000 as legal tender within three-odd hours of the
03 announcement, is a bold one. He invoked provocative imagery to explain the measure — of corrupt officials stashing
04 kilos of ill-gained cash under their mattresses, and such illicit black money fuelling inflation as well as terrorism. He
05 pointed out how difficult it is for honest taxpayers to buy a house as the real estate sector seldom operates without a
06 cash component, some of which finds its way to political funding. The increase in the circulation of these notes in the
07 past five years has been disproportionate to the economy’s growth. The introduction of new Rs.500 and Rs.2,000 notes,
08  the government argues, would not only check counterfeit currency, a problem that has assumed serious dimensions,
09 but also purge India’s economy of the black wealth amassed in the form of high-value notes. Any decision like this
10 needs to be sudden, and it is not surprising that it has caused hardship as people scramble to get notes of smaller
11 denomination for daily expenditure. The only defence for this is that the larger public purpose outweighs the immediate
12  difficulties. Having promised during the 2014 election campaign to bring back black money worth lakhs of crores
13 supposedly stashed abroad, the NDA government has been under pressure to do something dramatic. The two
14 amnesty schemes it launched over the past year, including one for foreign assets, didn’t yield anything near the 23.2
15 per cent of GDP that the World Bank had estimated India’s shadow economy to be in 2007. Today that would be nearly
16 $479 billion in unaccounted wealth, according to rating agency Crisil. While there will be pain and confusion in the
17 short term for common people and the economy, a disruptive measure was perhaps the only way to shake up the
18 system to a new compliance normal. But the Centre must ensure that no poor person is saddled with old, useless
19 notes  due to the lack of official identity documents or a bank account, and avoid putting to disadvantage older citizens
20 unable to visit a bank repeatedly to exchange high-value notes. It should find ways to check black money parked in
21 benami properties (possibly through a digital land and realty inventory) and gold. There must also be administrative
22 and electoral reforms to advance digital payments and eliminate the prospect of the new currency regime
23   spawning the  ghost economy afresh. (The Hindu, 10 Nov 2016).