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None of this even begins to explain why the demonetisation was necessary in the first place. Historically, demonetisations have been resorted to during hyperinflation , as in Weimar Germany, or periods when (1) profits were made, as in British India during World War II. No similar situation prevails in India today. Inflation is trending downwards and the private sector is facing stressed balance sheets. It is difficult to escape the conclusion that the move has a political (2) . Note that the government has only just closed a tax (3) scheme ending September 30. Dire threats had been held out then to those who would not come clean. Did this not flush out all the black money? More to the point, are we to understand that tax evaders will continue to (4) the tax administration and, therefore, demonetisation would have to be resorted to again some time in the future? Surely the government is aware that such data that we have access to do not show anything of the kind of (5) in the economy promised by this government in May 2014, and we are almost exactly at the halfway mark of its tenure. The demonetisation could be a (6) signal of its (7) to act. After all, those with some savvy can see that there may not be too much in it for energising the economy.
In his speech the Prime Minister had invoked the (8) of a purification of the economy by rooting out black money. But another form of purification can be espied in the action. In the (9) Rs.2,000 note to come, displayed on television, we can see the denomination written in the Devanagari numeral. It is a first. India’s founding fathers had avoided privileging any one language. This principle, so vital to the prospects of this great country, is set to be (10) . The demonetisation has also proved to be a cultural opportunity.
- 1) disadvantage
2) casulty
3) bad luck
4) windfall
5) bad fortuneAnswer –5)
Explanation : hyperinflation - 1) plenary
2) outright
3) undivided
4) component
5) accomplishedAnswer – 4)
Explanation : component - 1) blame
2) censure
3) conviction
4) doom
5) amnestyAnswer – 5)
Explanation : amnesty - 1) faced
2) dodge
3) confront
4) encounter
5) stand up toAnswer – 4)
Explanation : dodge - 1) resurgence
2) abortion
3) implosion
4) frustration
5) deteriorationAnswer – 1)
Explanation : resurgence - 1) content
2) unworried
3) desperate
4) confident
5) secureAnswer – 6)
Explanation : desperate - 1) irresolution
2) determination
3) spinelessness
4) vacillation
5) disinterestAnswer – 2)
Explanation : determination - 1) metaphor
2) complex
3) hidden
4) intricate
5) vagueAnswer – 1)
Explanation : metaphor - 1) simulacrum
2) cast
3) microfiche
4) prototype
5) ersatzAnswer – 4)
Explanation : prototype - 1) breached
2) kinned
3) reciprocity
4) ally
5) sponsorAnswer – 1)
Explanation : breached
