(Direction 1-10) Two principles are involved in the controversy about the presence of foreign controlled media in the country; the free flow of ideas and images across national borders and the need to safeguard the national interest and preserve cultural autonomy. Both are valid but both are at loggerheads because each has been used to promote less lofty goals. The first principle conforms to a moral imperative: freedom to expression cannot rhyme with restrictions imposed by any government. But the free flow rhetoric also clouds the fact that the powerful Western, and especially American media, can and often do present, subtly or brazenly, news in a manner that promotes Western political, ideological and strategic interests. Besides, Western entertainment programmes present lifestyles and values that run counter to the lifestyles and values cherished by traditional societies. All this explains why so many Indian newspapers, magazines and news agencies have sought protection from the courts to prevent foreign publications and news agencies from operating in the country. Their arguments are weak on two counts. As the bitter debate on a new world information and communication order demonstrated in the late seventies and early eighties, many of those who resent Western ‘invasion’ in the fields of information and culture are no great friends of democracy. Secondly, the threat of such an ‘invasion’ has been aired by those media groups in the developing countries that fear that their business interests will be harmed if Western groups, equipped with large financial and technological resources and superior management skills, are allowed to operate in the country without let.
The fear is valid but it goes against the grain of the economic reform programme. The presence of foreign newspapers and television channels will increase competition, which, in the course of time, can only lead to the upgradation of dynamic Indian newspapers and television channels, even while they drive the rest out of the market. One way to strike a balance between the two antagonistic principles would be to allow foreign media entry into the country, provided the India state treats them at par with the domestic media on all fronts. On the import of technology, for instance, foreign media cannot be allowed duty concessions denied to their Indian counterparts. Foreign media will also have to face legal consequences should they run foul of Indian laws. Why, for example, should the BBC, or Time magazine or The Economist get away by showing a map of Kashmir, which is at variance with the official Indian map? Why should they go scot-free when they allow secessionists and terrorists to air their views without giving the government the right to reply, or when they depict sexually explicit scenes, which would otherwise not be cleared by the Censor Board? Since the government can do precious little in the matter, especially about satellite broadcasts, what if it should consider attaching the properties of the offending parties? Demands of this kind are bound to be voiced unless New Delhi makes it clear to the foreign media that they will have to respect Indian susceptibilities, especially where it concerns the country’s
integrity and its culture. It may be able to derive some inspiration from France’s successful attempts in the recent GATT to protect its cinematography industry.
Question 1.
Which of the following is one of the points weakening the argument to prevent the entry of foreign media?
(A) Such entry would be against traditional culture
(B) The threat being voiced by those whose business will be harmed by such an entry.
(C) The arguments being put forth are at loggerheads
(D) The foreign media may not be treated on par with the domestic media
(E) Both are valid but both are at loggerheads because each has been used to promote less lofty goals.
1) Only A
2) Only B
3) Only C
4) Both A and B
5) Both D and E
Question 2.
What will be the impact of increasing competition?
(A) The domestic media will not be able to withstand it
(B) The foreign media will not be allowed duty concessions on import of technology
(C) It will improve Indian newspapers
(D) The Indian newspapers and news agencies will seek protection from the court
(E) It will improve Indian television
1) Only C
2) Only B
3) Both C and E
4) Both D and B
5) B, C and E.
Question 3.
Which of the following has been cited as having succeeded in protecting country?
(A) GATT
(B) News Agencies
(C) Television
(D) cultural televisions
(E)Media
1) All true
2) Only B
3) A,C and E
4) Both E andB
5) None of these
Question 4.
Which of the following has been the major recommendation regarding the entry of foreign media?
(A) It should not be allowed
(B) Allow entry, treating them on par with domestic media
(C) Provision for easy availability of loans to every section of the society regardless of their ability to repay these.
(1) Only A
(2) Only B
(3) Both A and C
(4) Both B and C
(5) None of these
Question 5.
In the controversy involving two principles regarding allowing foreign media, which of the following is against its entry?
(A) Free flow of ideas.
(B) Preserve culture.
(C) Government restrictions
(D) Security across national borders
(E) Western ideology.
(1) Both A and B
(2) Only B
(3) Only C
(4) Both B and C
(5) Only E
Question 6.
According to the passage, which media in particular promotes Western interests?
(A) American
(B) Foreign
(C) French
(D) Western
(E) Spanish
(1) Only A
(2) Only B
(3) Only C
(4) Both B and D
(5) A, B and C
Question 7.
Which of the following is the meaning of the phrase “without let”, as used in the passage?
(A) with no difficulty
(B) without confinement
(C) with strings
(D) without restrictions
(E) conducive environment
(1) Only A
(2) Only B
(3) A,B and D
(4) Only D
(5) Both B and C
Question 8.
Why would the entry of foreign media harm local interests?
(A) They are better equipped managerially and technologically
(B) Our cultural heritage will be lost
(C) Economic reform programmes will get a setback
(D) Different sets of laws and rules were made applicable for foreign media
(E) None of these
(1) Only C
(2) Only A
(3) None of the above
(4) B,C and D
(5) Both A and D
Question 9.
Which of the following is the meaning of the phrase “at variance”, as used in the passage?
(A) discrepancy
(B) at large
(C) in conformity
(D) variable
(E) differing
(1) Only A
(2) Only B
(3) Only C
(4) Only D
(5) Only E
Question 10.
Which of the following seems to be the most likely purpose of writing this passage?
(A) To criticize foreign media
(B) To highlight the exploitation by developed nations
(C) To highlight the steps and caution to be taken about the entry of foreign media
(D) To make the public aware of the technological and managerial superiority of western media
(E) To prevent foreign media from entering our country
(1) Only D
(2) All True
(3) None of these
(4) Only C
(5) Both D and C
Explanation
Question 1- 2
Question 2- 3
Question 3- 5
Question 4- 2
Question 5- 2
Question 6- 1
Question 7- 4
Question 8- 2
Question 9- 5
Question 10 – 4
(Direction 11-18 )
When times are hard, doomsayers are plenty. The problem is that if you listen to them too carefully, you tend to overlook the most obvious signs of change. 2011 was a bad year. Can 2012 be any worse? Doomsday forecasts are the easiest to make these days. So let’s try a contrarian’s forecast instead.Let’s start with the global economy. We have seen a steady flow of good news from the US. The employment situation seems to be improving rapidly and consumer sentiment, reflected in retail expenditures on discretionary items like electronics and clothes, has picked up. If these trends sustain, the US might post better growth numbers for 2012 than the 1.5-1.8 per cent being forecast currently.Japan is likely to pull out of a recession in 2012 as post-earthquake reconstruction efforts gather momentum and the fiscal stimulus announced in 2011 begins to pay off. The consensus estimate for growth in Japan is a respectable 2 per cent for 2012.
The “hard-landing” scenario for China remains and will remain a myth. Growth might decelerate further from the 9 per cent that it expected to clock in 2011 but is unlikely to drop below- 8-8.5 per cent in 2012.Europe is certainly in a spot of trouble. It is perhaps already in recession and for 2012 it is likely to post mildly negative growth. The risk of implosion has dwindled over the last few months – peripheral economies like Greece, Italy and Spain have new governments in place and have made progress towards genuine economic reform.Even with some of these positive factors in place, we have to accept the fact that global growth in 2012 will be tepid. But there is a flipside to this. Softer growth means lower demand for commodities and this is likely to drive a correction in commodity prices. Lower commodity inflation will enable emerging-market central banks to reverse their monetary stance. China, for instance, has already reversed its stance and has pared its reserve ratio twice. The RBI also seems poised for a reversal in its rate cycle as headline inflation seems well on its way to its target of 7 per cent for March 2012.
That said, oil might be an exception to the general trend in commodities. Rising geopolitical tensions, particularly the continuing face-off between Iran and the US, might lead to a spurt in prices. It might make sense for our oil companies to hedge this risk instead of buying oil in the spot market.As inflation fears abate and emerging market central banks begin to cut rates, two things could happen. Lower commodity inflation would mean lower interest rates and better credit availability. This could set a floor to growth and slowly reverse the business cycle within these economies. Second, as the fear of untamed, runaway inflation in these economies abates, the global investor’s comfort levels with their markets will increase.Which of the emerging markets will outperform and who will get left behind ? In an environment in which global growth is likely to be weak, economies like India that have a powerful domestic consumption dynamic should lead; those dependent on exports should, prima facie, fall behind. Specifically for India, a fall in the exchange rate could not have come at a better time. It will help Indian exporters gain market share even if global trade remains depressed. More importantly, it could lead to massive import substitution that favours domestic producers.
Let’s now focus on India and start with a caveat. It is important not to confuse a short-run cyclical dip with a permanent de-rating of its long-term structural potential. The arithmetic is simple. Our growth rate can be in the range of 7-10 per cent depending on policy action. Ten per cent if we get everything right, 7 per cent if we get it all wrong. Which policies and reforms are critical to taking us to our 10 per cent potential? In judging this, let’s again be careful. Let’s not go by the laundry list of reforms that Flls like to wave: increase in foreign equity limits in foreign shareholding, greater voting rights for institutional shareholders in banks, FDl in retail, etc. These can have an impact only at the margin. We need not bend over backwards to appease the Flls through these reforms – they will invest in our markets when momentum picks up and will be the first to exit when the momentum flags, reforms or not. The reforms that we need are the ones that can actually raiseour. sustainable long-term growth rate. These have to come in areas like better targeting of subsidies, making projects in infrastructure viable so that they draw capital, raising the productivity of agriculture, improving healthcare and education, bringing the parallel economy under the tax net, implementing fundamental reforms in taxation like GST and the direct tax code and finally easing the myriad rules and regulations that make doing business in India such a nightmare. A number of these
things do not require new legislation and can be done through executive order.
Question 11-
Which among the following is NOT true in the context of the passage?
(A) China’s economic growth may decline in the year 2012 as compared to the year 2011
(B) The European economy is not doing very well.
(C) Greece is on the verge of bringing about economic reforms.
(D) In the year 2012, Japan may post a positive growth and thus pull out of recession.
(E) All are true
(1) Only A
(2) Only B
(3) Only C
(4) Only C
(5) Only E
Question 12-
Which of the following will possibly be a result of softer growth estimated for the year 2012?
(A) Prices of oil will not increase.
(B) Credit availability would be lesser.
(C) Commodity inflation would be lesser.
1) Only B
2) Only A and B
3) Only A and C
4) Only C
5) A, B and C
Question 13-
Which of the following can be said about the present status of the US economy?
(A) There is not much improvement in the economic scenario of the country from the year 2011.
(B) The growth in the economy of the country, in the year 2012, would definitely be lesser than 1.8 per cent.
(C) The expenditure on clothes and electronic commodities, by consumers, is lesser than that in the year 2011.
(D) There is a chance that in 2012 the economy would do better than what has been forecast.
(E) The pace of change in the employment scenario of the country is very slow.
1) Only E
2) None of these
3) A, Cand D
4) Only D
5) A, B and C
Question 14-
Which of the following is possibly the most appropriate title for the passage?
A) The Economic Disorder
B) Indian Economy Versus The European Economy 3) Global Trade
C) The Current Economic Scenario
D) Characteristics of The Indian Economy
1) Only B
2) Only A and B
3) Only A and C
4) Only C
5) A, B and C
Question 15-
According to the author, which of the following would characterise Indian growth scenario in 2012? (A) Domestic producers will take a hit because of depressed global trade scenario.
(B) On account of its high domestic consumption, India will lead.
(C) Indian exporters will have a hard time in gaining market share.
1) Only (B)
2) Only (A) and (B)
3) Only (B) and (C)
4) Only (A)
5) All (A), (B) and (C)
Question 16-
Why does the author not recommend taking up the reforms suggested by Flls?
1) These will bring about only minor growth.
2) The reforms suggested will have no effect on the economy of our country, but will benefit the Flls significantly.
3) The previous such recommendations had backfired.
4) These reforms will be the sole reason for our country’s economic downfall.
5) The reforms suggested by them are not to be trusted as they will not bring about any positive growth in India.
1) Only C
2) Only A and B
3) Only A and C
4) Only C
5) Only E
Question 17-
Which of the following is TRUE as per the scenario presented in the passage?
A) The highest growth rate that India can expect is 7 per cent.
B) The fall in the exchange rate will prove beneficial to India.
C) Increased FDI in retail as suggested by Flls would benefit India tremendously.
D) The reforms suggested by the author require new legislations in India.
E) None is true
1) Only B
2) Only A and B
3) Only A and C
4) Only C
5) A, B and C
Question 18-
According to the author, which of the following reform/s is/are needed to ensure long-term growth in India?
(A) Improving healthcare and educational facilities (B) Bringing about reforms in taxation
(C) Improving agricultural productivity
1) Only (B)
2) Only (A) and (B)
3) Only (B) and (C)
4) Only (A)
5) All (A), (B) and (C)
Explanation
Question11- 5
Question12- 4
Question 13- 4
Question14- 4
Question 15- 1
Question 16- 5
Question 17- 2
Question 18- 5
