Directions (1-5): Read the following passage carefully and answer the questions given below them. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.
Unveiling a mini-Budget of sorts in the middle of the financial year, the Goods and Services Tax Council has announced a reduction in the tax rates for over 85 goods. The applicable indirect tax rates on consumer durables such as television sets, washing machines and refrigerators, along with a dozen other products, have been slashed from 28% to 18%. The tax rate on environmentally friendly fuel cell vehicles has been reduced from 28% to 12%, and the compensation cess levied on them dropped. This leaves just about 35 products, including tobacco, automobiles and cement, in the highest tax slab of the GST structure. Rakhis without semi-precious stones, as well as sanitary napkins that attracted 12% GST, have been exempted from the tax altogether. Several other products have been placed in lower tax slabs, including those from employment-intensive sectors such as carpets and handicrafts.
On the services front, too, there are important tweaks and clarifications. Overall, industry and consumers may consider these rate cuts, largely on products and services of mass use, as a stimulus to drive consumption ahead of the festive season. It is also a sign that the government has begun the groundwork to woo voters ahead of State and parliamentary elections. Whichever way one looks at it, the GST Council’s 28th meeting has significantly altered the course of the nearly 13-month-old tax regime. Given that GST rates on more than 200 items were already tweaked in past meetings, the original rate structure has been upended to a great extent. The actual impact of these changes on product prices and consumption demand will be visible soon, but the government’s confidence in such a rate reduction gambit indicates it is now comfortable with revenue yields from the GST.
Estimates of revenue losses from these rate cuts vary widely, but it’s too early to fret about the impact on macro fiscal numbers. If implemented well, the revenue lost could be offset by higher consumption that may lead to more investments over time. Moreover, improvements in compliance can be expected from the Council’s decision to further simplify paperwork for small and medium enterprises. But there are two major concerns. First, since the new rates are to kick in from July 27, companies may not have enough time to rework pricing strategies and replace existing market inventory, failing which they could face anti-profiteering action. Second, members of the Council have for the first time questioned its functioning and alleged that not all of the changes and rate cuts were placed on the agenda. For a tricky tax that is still a work in progress, distrust between the Centre and the States would make further rationalisation difficult. Such friction must be avoided in a system in which the States have so far worked in tandem with the Centre.
Q1. As per the passage, what is/are the concerns regarding these rate cuts in the GST regime?

(a) Companies will not get enough time to rework pricing strategies and replace existing market inventory, failing which they could face anti-profiteering action. (b) The GST Council’s 28th meeting has significantly altered the course of the nearly 13-month-old tax regime in a negative way. (c) The decision to make the GSTN a 100% government-owned firm, instead of the present structure with 51% private ownership, explains neither how this will address data security concerns nor the impact on the Network’s functional efficiency, which was the original stated intent for giving private players an upper hand in operations. (d) Both (a) and (c) (e) Both (a) and (b)

Answer: Option (a)
Q2. Which of the following is the most appropriate title for the passage above?

(a) GST is a successful story of cooperative federalism (b) Impact on macro fiscal numbers (c) Stimulus mode: on GST rate cuts (d) Delivering the goods: on GST collections (e) One year after: the GST anniversary

Answer: Option (c)
Q3. Which of the following statements is/are correct in context with the passage?

(a) The government is keen to start matching tax credits claimed by businesses for inputs from suppliers. (b) In its second year, the GST Council must pursue a time-bound approach to execute plans already announced to ease taxpayers’ woes, such as an e-wallet for exporters and a simpler return form. (c) The GST Council is one of the successes of what the government likes to call cooperative federalism, where the Centre and the states work together. (d) The rate cuts on products of mass use can be considered as the driving force to increase consumption before the festive season. (e) None of the Above

Answer: Option (d)
Q4. Which of the following word has similar meaning to the word given in bold in the passage? TWEAKS

(a) Scratches (b) Calcification (c) Ubiquitous (d) Modification (e) Callousness

Answer: Option (d)
Q5. Which of the following word has similar meaning to the word given in bold in the passage? GAMBIT

(a) Serendipity (b) Gimmick (c) Frankness (d) Fluke (e) Fortuity

Answer: Option (b)
Directions (6-7): In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.
Q6. Once appointed by the President, (a)/the council of ministers (b)/as responsible (c)/to the house. (d)/No error (e)

(a) Once appointed by the President (b) the council of ministers (c) as responsible (d) to the house (e) No error

Answer: Option (c)
Q7. The time has come for policy makers (a) / in India to understand the damage (b) / which is caused as a result of (c) / a vast gap in perception and reality. (d)/No error (e)

(a) The time has come for policy makers (b) in India to understand the damage (c) which is caused as a result of (d) a vast gap in perception and reality (e) No error

Answer: Option (c)
Directions (8-10): In each of the questions given below an incomplete sentence which must be filled/completed with one of the one or more sentences given below .i.e. one or more sentences can be fit into the given blank. If all the parts fit into the given blank your answer should be "All are correct". Choose the correct option and complete the given sentences.
Q8. The tunnel _______ for extracting smoke and stale air and for infusing fresh air. It will have state-of-the-art monitoring and control systems for security. (a) will be choked (b) will be blocked (c) will have forced ventilation (d) will have a corridor (e) will soon make to prepare Answer: Option (c)
Q9. When India’s largest political party pursues such a strategy and finds it electorally rewarding, it _________ by other political parties. (a) may be rejected (b) may be emulated (c) may be ignored (d) may be protested (e) may be gone through Answer: Option (b)
Q10. The argument for a uniform civil code (UCC) ___________ in a modern nation-state as long as it is rational, non-discriminatory and promotes social equality and gender justice. (a) is invoking (b) is provoking (c) is rescind (d) is void (e) is irrefutable Answer: Option (e)