English quiz - 46 | SBI | IBPS

Directions( 1 -10) : In the following passage, some of the words have been left out, each of which is indicated by a number. Find the suitable word from the options given against each number and fill up the blanks with appropriate words to make the paragraph meaningful. 

Following a steep rise in the current account deficit and _____(1)_____ forex reserves, the Indian Government raised the gold import tax last year to 10 per cent from 4 per cent, and _____(2)_____ the 80 : 20 rule last July, which _____(3)_____ that 20 per cent of all gold imports have to be re-exported.

As a result, official gold imports have _____(4)_____, reducing the trade deficit, and therefore, the CAD significantly. However, India's appetite for gold continues _____(5)_____ and some of it is now being fulfilled by smuggling. According to the World Gold Council, 150 -200 tonnes of gold _____(6)_____ the country through unofficial channels in 2013. So, the curbs on gold imports and high import tax cannot be kept in place for too long.

But periodically _____(7)_____ the import tax and _____(8)_____ sundry restrictions in response to the ebb and ____(9)_____ of foreign capital does not_____(10)_____ the real problem, which is India's huge appetite for gold.

1.a)continuing

b)desisting

c)refraining

d)bypassing

e)declining

2.a)installed

b)introduced

c)applied

d)popularised

e)induced

3.a)desires

b)confines

c)solicited

d)requires

e)questions

4.a)plunged

b)ascended

c)retreated

d)rose

e)went up

5.a)lessening

b)to tumble

c)unabated

d)falling off

e)down turn

6.a)escaped

b)left

c)brought into

d)joined

e)entered

7.a)conforming

b)adjusting

c)adopting

d)disposing

e)upsetting

8.a)imposing

b)levying

c)striking

d)alarming

e)granting

9.a)drift

b)run

c)flux

d)flow

e)tide

10.a)confront

b)hail

c)address

d)run into

e)acknowledge

Answers
1.e
2.b
3.d
4.a
5.c
6.e
7.b
8.a
9.d
10.c