NIFT UG 2015 Question Paper with solutions

Directions (Q. 26–45): Study the passages below and answer the questions that follow each passage.  We possess an insidious subsidy culture. If an election is coming, a quick word will raise the LPG cylinder cap or lower CNG prices, ignoring gaping fiscal deficits. In the idealized public sector era,subsidies were a symbol of our commitment to bring about egalitarian growth, protecting our infant industries. Now, in the last decade, our central government has spent almost ₹11 trillion on subsidies—mostly captured by the upper class on fuel and large farmers on fertilisers. Similar to Italy, our unmanageable spending problems are compounded by welfare expansion and a social expectation for subsidies. Everyday choices, from education to transport, are tailored by subsidies that the government gives. Populism runs amok, with warped socialist economics focussing on vote linked needs but not appropriate holistic solutions. A bitter fiscal reckoning awaits.