Current Affairs PDF

English Questions: Cloze Test Set – 177

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Welcome to Online English Section with explanation in Affairs Here we are creating question sample in Cloze test, which is BASED ON IBPS & SBI PO/CLERK/LIC AAO/RRB, RBI, IPPB,SSC CGL EXAM and other competitive exams !!!

Coming within three months of the Central government’s purge of high-value currency notes that has (1) economic activity, particularly in the informal sector, it was imperative that Union Finance Minister Arun Jaitley soothed frayed (2) with Budget 2017-18. It was equally critical that he provided a glimpse of a larger plan to prevent regeneration of black money, the original intent behind the demonetisation of ₹500 and ₹1,000 notes. He has managed to do both to a fair degree, without (3) the easy options of (4) populism or spending his way out of trouble in a slowing economy. Apart from funding the sops announced a month ago by Prime Minister Narendra Modi for (5) sections of society, the Finance Minister has done his best to further ease the pain of people most impacted by the adverse effects of demonetisation. The tax rate for small and medium enterprises with an annual turnover of up to ₹50 crore, which are the (6) job-creation but end up paying higher taxes than large companies, has been slashed to 25%. For corporates, though, there is no road map on lower tax rates. In addition, (7) personal income tax rate from 10% to 5% for those in the lowest tax slab of ₹2.5 lakh to ₹5 lakh not only puts more money in the hands of this segment, but is also an effective nudge to bring more people into the formal tax net. All other taxpayers have been given a benefit of ₹12,500 each.
There is a redistributive element to such sops, with part of the revenue loss from these income tax (8) being funded by a 10% surcharge on the income tax of those in the ₹50 lakh to ₹1 crore bracket. Mr. Jaitley hinted as much, saying the demonetisation has helped transfer resources from tax-evaders to the government. He disclosed that there has been a remarkable 34% rise in (9) personal income tax collections in the first three quarters of 2016-17, after recording single-digit growth in the previous two years. (10) note ban has put the fear of the law into many tax- dodgers.

  1. 1) downfield
    2) dampened
    3) brighten
    4) hearten
    5) elated
    Answer – 2)
    Explanation : dampened

  2. 1) modesty
    2) clarity
    3) clearity
    4) fears
    5) nerves
    Answer – 5)
    Explanation : nerves

  3. 1) revoking of
    2) renounce for
    3) resorting to
    4) retracting
    5)  disclaim to
    Answer – 3) 
    Explanation : resorting to

  4. 1) subtle
    2) unpronounced
    3) quiet
    4) blatant
    5) inconspicuous
    Answer – 4)
    Explanation : blatant

  5. 1) hesitant
    2) questioning
    3) troubled
    4) diffident
    5) vulnerable
    Answer – 5)
    Explanation : vulnerable

  6. 1) perfection for
    2) strength in
    3) bulwark of
    4) advantage with
    5)  improvemenon
    Answer – 3) 
    Explanation : bulwark of

  7. 1) plug into
    2) halving the
    3) tack on

    4) compound of

    5) bunch up

    Answer – 2) 
    Explanation : halving the

  8. 1) giveaways
    2) thievery
    3) thieving
    4) exploitation
    5) swindle
    Answer – 1)
    Explanation : giveaways

  9. 1) trailing
    2) bringing up
    3) advance
    4) abaft
    5) subsequently
    Answer – 3)
    Explanation : advance

  10. 1) Perhaps the
    2) Perhaps of
    3) though the
    4) although of
    5) instead of
    Answer – 1)
    Explanation : Perhaps the