IBPS RRB Officer Scale 1 Model Paper 1

Directions (121-135): Read the following passage carefully and answer the questions givenbelow it. Certain words/phrases are given in bold to help you to locate them while answeringsome of the questions.
‌‌‌‌ According to some economists swadeshi does not mean insulating India’s economy fromthe world economy. The basic idea of swadesi is to have a calibrated process of opening of theeconomy so that ail segments are enabled to compete with the best in the world after goingthrough Intense internal competition leadingxto mergers, acquisitions and eliminations, Thisis how Japan had developed its industry and the entire, economy.
‌‌‌‌‌However, under the present world situation and the dire necessity of mitigatingconditions of poverty in the country, the Government has to decide as to how much of freetrade is to be allowed in the different segments of economy in order to achieve the rate ofgrowth planned for the economy during the period of Ninth Plan.
‌‌‌‌All over the world people have been found to be divided on the crucial question of protectionand free trade. A recent study has found that the protectionists in the world outnumber freetraders and are showing further increase in their number.
‌‌‌‌‌ The study has been made for The Economist by the Augus-Reid Group, a Canadianpollster. It is based upon an opinion poll carried out among 12741 adults spread over 22 importantcountries of the world. The leading question asked in the poll was as to which of the followingtwo approaches do you think would be the best way to improve the economic and employmentsituation in this country:
i) Protecting our local’industries by restricting imports, or (ii) Removing irnport restrictionsto increase our international trade?Replies received to this question showed that - (a) Protectionists world-wide outnumber freetraders 47% to 42% (b) Proportion of people supporting free trade had declined from 43% in 1997to 42% in 1998.
‌‌‌‌‌ The trend for a fall in the number of free traders and a rise in the number of protectionistshas been called as ‘amazing’ in the study because it has shown a negative result for the stupendous global efforts of the WTO; the World Bank the IMF and the most powerful G - 7countries for the propagation and promotion of free trade and globalisation in the world.It is interesting to note that America, Australia, UK, Canada and Italy, who are strongchampions of free trade in the world have large majority of their own people still supportingprotection! The study says: “A clear majority of Americans (56% to 37%) are protectionistseven today”. .And over the past one year, the number of free traders in America had declinedby 4%. Such decline was.much higher in Italy (21 %), Canada (13%) and UK (12%).