1. Home
  2. |  
  3. Bank Recruitment |  

IBPS PO, IPPB, IBPS RRB Exam: Reading Comprehension Quiz based on ‘Business Standard Article

Oct 11, 2016 07:03 IST

    English is a very important section to clear competitive examinations these days and as far as banking exams are concerned, you are certain to face questions in the English section from leading newspapers in English such as The Times of India, The Indian Express, The Hindu, The Business Standard etc these days. Here the banking team of Jagranjosh.com, the leading website for banking preparation, is presenting to you passages from these prominent newspapers and questions on those passages in the latest pattern so that we can help you add that extra zing to your preparation. Follows is a passage from ‘The Business Standard’ (dated October 5, 2016) for Reading Comprehension questions. Go through it to give your preparation a boost.

    Question (1-10): Read the following passage and answer the questions that follow. Some words / phrases are printed in bold in the passage in order to help you locate them while answering some of the questions asked.

    Automation threatens 69 per cent of the jobs in India, while 77 per cent in China, according to a World Bank research which has said that technology could fundamentally disrupt the pattern of traditional economic path in developing countries.

    "As we continue to encourage more investment in infrastructure to promote growth, we also have to think about the kinds of infrastructure that countries will need in the economy of the future. We all know that technology has and will continue to fundamentally reshape the world," World Bank President Jim Kim said.

    "But the traditional economic path from increasing productivity of agriculture to light manufacturing and then to full-scale industrialization may not be possible for all developing countries," Kim said in response to a question at the Brookings Institute during a discussion on extreme poverty yesterday.

    "In large parts of Africa, it is likely that technology could fundamentally disrupt this pattern. Research based on World Bank data has predicted that the proportion of jobs threatened in India by automation is 69 per cent, in China it is 77 per cent and in Ethiopia, the percentage of jobs threatened by automation is 85 per cent," he said.

    "Now, if this is true, and if these countries are going to lose these many jobs, we then have to understand what paths to economic growth will be available for these countries and then adapt our approach to infrastructure accordingly," Kim said. He said one child policy could have been reason of sharp decline in child stunting and malnutrition, which is now at 10 per cent.

    "The one child policy could have been part of it, but anyway the point is, that if you look at educational outcomes and things like child stunting, India is at 38.7 per cent child stunting, they are literally walking into the future with 40 per cent of their workforce probably being unable to compete in the global digital economy, whereas China over the years has brought it down very, very low," Kim said.

    "In India, it is probably partly because of sanitation that children are often in a just constant diarrheal stage, because of open defecation. There are a lot of different pieces of it. But I have been saying to the leaders of these countries that have these high stunting rates, there is like an emergency for you, you have got to tackle it," Kim said.
     Mechanization and technology have disrupted traditional industrial production, upended manual jobs and call time on the work that has been done by generations of families. This trend is not isolated to the US. It is affecting people in countries everywhere, Kim said.

    "When I was in China at the G20, many world leaders talked about the storm clouds of isolationism and protectionism that was gathering and becoming increasingly worrisome to everybody. These trends come at a time though when we need more cooperation, when we need greater economic integration and stronger partnerships than ever before if we want the world economy to return to higher rates of inclusive, sustainable growth.

    "Openness and partnership between countries have played a critical role in an unparalleled period of growth and poverty reduction. Since 1990, more than one billion people have escaped extreme poverty," Kim said.

    Great strides toward ending extreme poverty have been made by countries like China as a result of trade and openness of their domestic industries to global competition. Countries working together and especially trading together have delivered lasting progress, Kim said.

    "So in the end, we have made progress. But at the same time, in most of the world, we are facing very strong headwinds, a slowing global economy hit by falling commodity prices and stagnating global trade. That is really historic," he added.

    1. Which among the following underlines the opinion of World Bank regarding the direction of economic growth in the coming years in the world?

    1. The growth will depend on human resource and that is why China is going to grow faster than other countries
    2. The economic growth is going to be faster for India because India has skilled manpower
    3. The economic growth is going to be faster in African countries because there is a lot of scope for development in the region
    4. The economic growth of all the countries will be more or less based on technology based innovations
    5. Other than those given in options

    Solution: Option (4)

    Explanation: The given passage is based on the effect of automation on the overall economic growth of the world economy. This has to do with the technological advancement of the countries around the world. World Bank thinks that technology will rule the world in the years to come and it will definitely shape the path of economic reforms in the future.

    2. Which among the following is true regarding the effect of technological advancement on job creation?

    1. India is going to lose more jobs compared to any other Asian economy since the technology revolution is just taking shape in India
    2. China is going to suffer more and is going to lose more jobs as the country will not require manpower anymore to the extent it needs now
    3. India will be based on skilled manpower and will lose more jobs but China will face the same situation
    4. Asian economies will not be affected much by automation because these countries are not at all technologically advanced
    5. Other than those given in options

    Solution: Option (2)

    Explanation: According to the World Bank report discussed in the passage, because of automation, India is going to lose around 69 percent of jobs whereas China is going to lose around 77 percent of the same. In the future as well, the economies will solely rely on technology for economic development and this is going to reshape the future of the world economy on the whole.

    3. Which among the following is true regarding the state of African continent regarding the effect of technology advancement?

    1. African countries are going to unaffected because they do not have much to do with technology
    2. African countries are not going to participate in the global trade market because they maintain a closed economy
    3. African countries will be affected more than the Asian countries and other countries and will lose more jobs because of advancement in technology in the future
    4. African countries are very stagnant about economic growth and that may be the reason of their developing status even after these many years
    5. Other than those given in options

    Solution: Option (3)

    Explanation: According to the passage, the new trend of technological advancement is going to change the approach the world leaders are going to take in case of economic growth and Africa is also going to experience a disruption in the overall approach to economic development. This will result in countries like Ethiopia seeing a loss of around 85 percent jobs compared to 69 percent in India and 77 percent in China.

    4. Why is Indian workforce not able to compete with Chinese workforce according to World Bank observation?

    1. Most of the children in India are illiterate and they are not going to be able to compete in the global market
    2. China has a very extensive policy of industrial training in place and they churn out skilled graduates in lakhs every year
    3. India has the problem of malnutrition and stunting affecting the workforce
    4. China and India both are not going to be able to compete in the global workforce because European countries and USA are going to take the centre stage
    5. Other than those given in options

    Solution: Option (3)

    Explanation: According to the President of World Bank, India has the problem of most of its children suffering from various diseases and thereby losing out on the opportunity to become productive workforce whereas because of one child policy, China has been able to restrict the percentage of malnutrition and stunting among children. This makes Indian children falling behind in the global arena.

    5. Which among the following is going to increase global trade in the near future according to the report by World Bank?

    1. World Bank does not know about the effect of automation on all the countries of the world and that is why they are skeptical that it may mar the prospects of global trade
    2. World Bank thinks that countries should be aware of their own rights and then only they can prosper in terms of global trade volume
    3. World Bank thinks that countries should come together and cooperate with each other in case they are interested in increasing the overall volume of global trade
    4. World Bank thinks that a closed economy is necessary to increase the volume of global trade in the future
    5. Other than those given in options

    Solution: Option (3)

    Explanation: According to the President of World Bank, it is very important for countries to come together and cooperate with each other and in that case they will be able to increase the volume of trade necessary for global economic growth to take off again. The bank has warned against the adverse effects of protectionism on the volume of global trade.

    6. Which among the following is true regarding World Bank observations on world economy according to the passage?

    1. World economy is going to chart a different territory in terms of economic growth in the future years
    2. World economy is going to see signs of improvement if protectionism of countries can be taken care of
    3. Poverty can be eradicated from the world if we can ensure that countries cooperate with each other in terms of trade and business
    4. Both (1) and (3)
    5. All the above

    Solution: Option (5)

    Explanation: According to the passage, technology will cause disruption in the traditional path of economic reforms countries have followed until now since there will be changes in the overall process whereas countries should come together in order to increase the volume of trade between themselves in order to ensure that the world economy does not suffer. This has very positive effects on poverty alleviation as well as experienced by World Bank since 1990. These make all the given statements true.

    7. Which among the following is similar in meaning to the word ‘traditional’ as used in the passage?

    1. Usual
    2. Conventional
    3. Old
    4. Accessible
    5. Other than those given in options

    Solution: Option (2)

    Explanation: The given word has been used in the passage to indicate that all the countries are going to deviate from the conventional paths followed by them in the years to come because of advancement in technology. This makes option (2) the right choice among the given options.

    8. Which among the following is similar in meaning to the word ‘disrupt’ as used in the passage?

    1. Appendage
    2. Absolve
    3. Exonerate
    4. Astute
    5. Disturb

    Solution: Option (5)

    Explanation: The given word has been used in the passage to indicate that the world economy is undergoing a sea change in the coming years because of the positive effects of industrial development as well as technological advancement. This will disturb the conventional paths charted by countries for ushering in reforms. This makes option (5) the right choice among the given options.

    9. Which among the following is opposite in meaning to the word ‘adapt’ as used in the passage?

    1. Utter
    2. Ashamed
    3. Unfit
    4. Astounding
    5. Other than those given in options

    Solution: Option (3)

    Explanation: The given word has been used in the passage to indicate that the world economy should adjust itself accordingly in the future in order to ensure that the world economy is going to grow with the influence of technology in the near future. This makes option (3) the right choice as the opposite of the given word.

    10. Which among the following is opposite in meaning to the word ‘sharp’ as used in the passage?

    1. Blunt
    2. Blaring
    3. Glaring
    4. Low
    5. Other than those given in options

    Solution: Option (4)

    Explanation: The given word has been used to indicate that the one child policy in China has been able to arrest the trend of malnutrition in the country as the rate has declined a lot. This makes option (4) the right choice among the given options as the opposite.

    Latest Videos

    Register to get FREE updates

      All Fields Mandatory
    • (Ex:9123456789)
    • Please Select Your Interest
    • Please specify

    • ajax-loader
    • A verifcation code has been sent to
      your mobile number

      Please enter the verification code below

    This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK
    X

    Register to view Complete PDF