English: Cloze Test for Upcoming Exams – Set 170

Directions: In the following passage ten blanks are left out labeled with letters A, B, C and so on. You have to choose a set of words that is correct grammatically and contextually in order to fill the blank.

The Union Cabinet has approved a series of changes in foreign direct investment norms as the government prepares to enter the last lap of its economic policy-setting phase ahead of the 2019 election. Key among these was the decision to __ 1 __ up to 49% overseas ownership, including by a foreign airline, in Air India. This comes just a little more than six months after the Cabinet Committee on Economic Affairs gave its nod for a strategic __ 2 __ of the airline. The relaxation in ownership norms clears the decks for possible bidders such as the Singapore Airlines-Tata combine and Jet Airways — with its overseas equity and route partners — to make a more detailed commercial __ 3 __ of the investment opportunity the state-owned flag carrier presents. For the fiscally constrained government, the __ 4 __ couldn’t have come sooner. With the Union Budget due soon and the government __ 5 __ short of its budgeted strategic disinvestment goal for the current financial year — as of end-November, only 28% of the targeted ?15,000 crore had been realised — the hope must be for an __ 6 __ timetable for the stake sale. Still, the fulfillment of a necessary condition for a strategic sale doesn’t automatically become sufficient grounds for a successful privatisation. Given the carrier’s accumulated debt of about ?50,000 crore and the fact that the interest of potential investors is likely to be focused on Air India’s __ 7__ long-haul international routes and its fleet of more than 40 wide-bodied aircraft, disinvestment will be neither easy nor guaranteed. At the very least, the government needs to set a distinct, __ 8 __ road map for the sale process.

The other reform cleared by the Cabinet was the __ 9__ decision to put 100% FDI in Single Brand Retail Trading under the ‘automatic’ route, accompanied by the long-sought relaxation of mandatory local sourcing norms. This had been a major issue with potential investors including Apple, which had repeatedly urged the government to take a more __ 10 __ view given the level of technological advancement incorporated in its products and the difficulty in finding local sources of supply at the requisite scale.

1. give away, encash
   allow, permit
   strategise, authorize
   spurn, promote
   All of the above
   Option B
   
   
    



2. seizure, expropriation
   occupancy, vacancy
   disinvestment, divestment
   destitution, denial
   All of these
   Option C
   
   
    



3. 
   
   evaluation, assessment
   opinion, viewpoint
   viability, validity
   aspect, issue
   All of these
   Option A
   
   
    



4. impact, effect
   verdict, protocol
   decision, conclusion
   negotiation, dialogue
   All of these
   Option C
   
   
    



5. woefully, extremely
   sure, certain
   fair, definitely
   merely, slightly
   All of these
   Option A
   
   
    



6. inexpedient, impolitic
   accelerated, increased
   sluggish, gradual
   lethargic, plodding
   All of these
   Option B
   
   
    



7. potentially, likely
   futile, cost-effective
   pragmatic, realistic
   lucrative, fruitful
   All of these
   Option D
   
   
    



8. univocal, vague
   unequivocal, unambiguous
   fuzzy, absurd
   clear, short
   All of these
   Option B
   
   
    



9. eminent, significant
   essential, pivotal
   critical, important
   crucial, vital
   All of these
   Option E
   
   
    



10. concentrated, focused
    genial, chipper
    benign, mild
    lively, brisky
    All of these
    Option C