1. I have been living here ......1990.





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MCQ-> I think that it would be wrong to ask whether 50 years of India's Independence are an achievement or a failure. It would be better to see things as evolving. It's not an either-or question. My idea of the history of India is slightly contrary to the Indian idea.India is a country that, in the north, outside Rajasthan, was ravaged and intellectually destroyed to a large extent by the invasions that began in about AD 1000 by forces and religions that India had no means of understanding.The invasions are in all the schoolbooks. But I don't think that people understand that every invasion, every war, every campaign, was accompanied by slaughter, a slaughter always of the most talented people in the country. So these wars, apart from everything else led to a tremendous intellectual depletion of the country.I think that in the British period, and in the 50 years after the British period, there has been a kind of regrouping or recovery, a very slow revival of energy and intellect. This isn't an idea that goes with the vision of the grandeur of old India and all that sort of rubbish. That idea is a great simplification and it occurs because it is intellectually, philosophically easier for Indians to manage.What they cannot manage, and what they have not yet come to terms with, is that ravaging of all the north of India by various conquerors. That was ruined not by the act of nature, but by the hand of man. It is so painful that few Indians have begun to deal with it. It is much easier to deal with British imperialism. That is a familiar topic, in India and Britain. What is much less familiar is the ravaging of India before the British.What happened from AD 1000 onwards, really, is such a wound that it is almost impossible to face. Certain wounds are so bad that they can't be written about. You deal with that kind of pain by hiding from it. You retreat from reality. I do not think, for example, that the Incas of Peru or the native people of Mexico have ever got over their defeat by the Spaniards. In both places the head was cut off. I think the pre-British ravaging of India was as bad as that.In the place of knowledge of history, you have various fantasies about the village republic and the Old Glory. There is one big fantasy that Indians have always found solace in: about India having the capacity for absorbing its conquerors. This is not so. India was laid low by its conquerors.I feel the past 150 years have been years of every kind of growth. I see the British period and what has continued after that as one period. In that time, there has been a very slow intellectual recruitment. I think every Indian should make the pilgrimage to the site of the capital of the Vijayanagar empire, just to see what the invasion of India led to. They will see a totally destroyed town. Religious wars are like that. People who see that might understand what the centuries of slaughter and plunder meant. War isn't a game. When you lost that kind of war, your town was destroyed, the people who built the towns were destroyed. You are left with a headless population.That's where modern India starts from. The Vijayanagar capital was destroyed in 1565. It is only now that the surrounding region has begun to revive. A great chance has been given to India to start up again, and I feel it has started up again. The questions about whether 50 years of India since Independence have been a failure or an achievement are not the questions to ask. In fact, I think India is developing quite marvelously, people thought — even Mr Nehru thought — that development and new institutions in a place like Bihar, for instance, would immediately lead to beauty. But it doesn't happen like that. When a country as ravaged as India, with all its layers of cruelty, begins to extend justice to people lower down, it's a very messy business. It's not beautiful, it's extremely messy. And that's what you have now, all these small politicians with small reputations and small parties. But this is part of growth, this is part of development. You must remember that these people, and the people they represent, have never had rights before.When the oppressed have the power to assert themselves, they will behave badly. It will need a couple of generations of security, and knowledge of institutions, and the knowledge that you can trust institutions — it will take at least a couple of generations before people in that situation begin to behave well. People in India have known only tyranny. The very idea of liberty is a new idea. The rulers were tyrants. The tyrants were foreigners. And they were proud of being foreign. There's a story that anybody could run and pull a bell and the emperor would appear at his window and give justice. This is a child's idea of history — the slave's idea of the ruler's mercy. When the people at the bottom discover that they hold justice in their own hands, the earth moves a little. You have to expect these earth movements in India. It will be like this for a hundred years. But it is the only way. It's painful and messy and primitive and petty, but it’s better that it should begin. It has to begin. If we were to rule people according to what we think fit, that takes us back to the past when people had no voices. With self-awareness all else follows. People begin to make new demands on their leaders, their fellows, on themselves.They ask for more in everything. They have a higher idea of human possibilities. They are not content with what they did before or what their fathers did before. They want to move. That is marvellous. That is as it should be. I think that within every kind of disorder now in India there is a larger positive movement. But the future will be fairly chaotic. Politics will have to be at the level of the people now. People like Nehru were colonial — style politicians. They were to a large extent created and protected by the colonial order. They did not begin with the people. Politicians now have to begin with the people. They cannot be too far above the level of the people. They are very much part of the people. It is important that self-criticism does not stop. The mind has to work, the mind has to be active, there has to be an exercise of the mind. I think it's almost a definition of a living country that it looks at itself, analyses itself at all times. Only countries that have ceased to live can say it's all wonderful.The central thrust of the passage is that
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MCQ-> Read the passages carefully and choose the best answer to each question out of the four alternatives. Poverty can be defined as a social phenomenon in which a section of the society is unable to fulfill even its basic necessities of life. When a substantial segment of the society is deprived of the minimum level of living and continues at a bare subsistence level, that society is said to be plagued with mass poverty. The countries of the third world exhibit invariably the existence of mass poverty, although pockets of poverty exist even in the developed countries of Europe and America.Attempts have been made in all societies to define poverty, but all of them are conditioned by the vision of minimum or good life obtaining in society. For instance, the concept of poverty in the U.S.A. would be significantly different from that in India because the average man is able to afford a much higher level of living in the United States. There is an effort in all definitions of poverty to approach the average level of living in a society and as such these definitions reflect the coexistence of inequalities in a society and the extent to which different societies are prepared to tolerate them. For instance, in India, the generally accepted definition of poverty emphasizes minimum level of living rather than a reasonable level of living. This attitude is borne out of a realization that it would not be possible to provide even a minimum quantum of basic needs for some decades and therefore, to talk about a reasonable level of living or good life may appear to be wishful thinking at the present stage. Thus, political considerations enter the definitions of poverty because programmes of alleviating poverty may become prohibitive as the vision of a good life widens.What is poverty according to the writer?
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MCQ-> The conceptions of life and the world which we call ‘philosophical’ are a product of two factors: one inherited religious and ethical conceptions; the other, the sort of investigation which may be called ‘scientific’, using this word in its broadest sense. Individual philosophers have differed widely in regard to the proportions in which these two factors entered into their systems, but it is the presence of both, in some degree, that characterizes philosophy.‘Philosophy’ is a word which has been used in many ways, some wider, some narrower. I propose to use it in a very wide sense, which I will now try to explain.Philosophy, as I shall understand the word, is something intermediate between theology and science. Like theology, it consists of speculations on matters as to which definite knowledge has, so far, been unascertainable; but like science, it appeals to human reason rather than to authority, whether that of tradition or that of revelation. All definite knowledge so I should contend belongs to science; all dogma as to what surpasses definite knowledge belongs to thelogy. But between theology and science there is a ‘No man’s Land’, exposed to attack from both sides; this ‘No Man’s Land’ is philosophy. Almost all the questions of most interest to speculative minds are such as science cannot answer, and the confident answers of theologians no longer seem so convincing as they did in former centuries. Is the world divided into mind and matter, and if so, what is mind and what is matter? Is mind subject to matter, or is it possessed of independent powers? Has the universe any unity or purpose? It is evolving towards some goal? Are there really laws of nature, or do we believe in them only because of our innate love of order? Is man what he seems to the astronomer, a tiny lump of carbon and water impotently crawling on a small and unimportant planet? Or is he what he appears to Hamlet? Is he perhaps both at once? Is there a way of living that is noble and another that is base, or are all ways of living merely futile? If there is a way of living that is noble, in what does it consist, and how shall we achieve it? Must the good be eternal in order to deserve to be valued, or is it worth seeking even if the universe is inexorably moving towards death? Is there such a thing as wisdom, or is what seems such merely the ultimate refinement of folly? To such questions no answer can be found in the laboratory. Theologies have professed to give answers, all too definite; but their definiteness causes modern minds to view them with suspicion. The studying of these questions, if not the answering of them, is the business of philosophy.Why, then, you may ask, waste time on such insoluble problems? To this one may answer as a historian, or as an individual facing the terror of cosmic loneliness.The answer of the historian, in so far as I am capable of giving it, will appear in the course of this work. Ever since men became capable of free speculation, their actions in innumerable important respects, have depended upon their theories as to the world and human life, as to what is good and what is evil. This is as true in the present day as at any former time. To understand an age or a nation, we must understand its philosophy, and to understand its philosophy we must ourselves be in some degree philosophers. There is here a reciprocal causation: the circumstances of men’s lives do much to determine their philosophy, but, conversely, their philosophy does much to determine their circumstances.There is also, however, a more personal answer. Science tells us what we can know, but what we can know is little, and if we forget how much we cannot know we may become insensitive to many things of very great importance. Theology, on the other hand, induces a dogmatic belief that we have knowledge, where in fact we have ignorance, and by doing so generates a kind of impertinent insolence towards the universe. Uncertainty, in the presence of vivid hopes and fears, is painful, but must be endured if we wish to live without the support of comforting fairy tales. It is good either to forget the questions that philosophy asks, or to persuade ourselves that we have found indubitable answers to them. To teach how to live without certainty, and yet without being paralyzed by hesitation, is perhaps the chief thing that philosophy, in our age, can still do for those who study it.The purpose of philosophy is to
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MCQ-> Read carefully the four passages that follow and answer the questions given at the end of each passage:PASSAGE I The most important task is revitalizing the institution of independent directors. The independent directors of a company should be faithful fiduciaries protecting, the long-term interests of shareholders while ensuring fairness to employees, investor, customer, regulators, the government of the land and society. Unfortunately, very often, directors are chosen based of friendship and, sadly, pliability. Today, unfortunately, in the majority of cases, independence is only true on paper.The need of the hour is to strengthen the independence of the board. We have to put in place stringent standards for the independence of directors. The board should adopt global standards for director-independence, and should disclose how each independent director meets these standards. It is desirable to have a comprehensive report showing the names of the company employees of fellow board members who are related to each director on the board. This report should accompany the annual report of all listed companies. Another important step is to regularly assess the board members for performance. The assessment should focus on issues like competence, preparation, participation and contribution. Ideally, this evaluation should be performed by a third party. Underperforming directors should be allowed to leave at the end of their term in a gentle manner so that they do not lose face. Rather than being the rubber stamp of a company’s management policies, the board should become a true active partner of the management. For this, independent directors should be trained in their in their in roles and responsibilities. Independent directors should be trained on the business model and risk model of the company, on the governance practices, and the responsibilities of various committees of the board of the company. The board members should interact frequently with executives to understand operational issues. As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present. The independent board members should periodically review the performance of the company’s CEO, the internal directors and the senior management. This has to be based on clearly defined objective criteria, and these criteria should be known to the CEO and other executive directors well before the start of the evolution period. Moreover, there should be a clearly laid down procedure for communicating the board’s review to the CEO and his/her team of executive directors. Managerial remuneration should be based on such reviews. Additionally, senior management compensation should be determined by the board in a manner that is fair to all stakeholders. We have to look at three important criteria in deciding managerial remuneration-fairness accountability and transparency. Fairness of compensation is determined by how employees and investors react to the compensation of the CEO. Accountability is enhanced by splitting the total compensation into a small fixed component and a large variable component. In other words, the CEO, other executive directors and the senior management should rise or fall with the fortunes of the company. The variable component should be linked to achieving the long-term objectives of the firm. Senior management compensation should be reviewed by the compensation committee of the board consisting of only the independent directors. This should be approved by the shareholders. It is important that no member of the internal management has a say in the compensation of the CEO, the internal board members or the senior management. The SEBI regulations and the CII code of conduct have been very helpful in enhancing the level of accountability of independent directors. The independent directors should decide voluntarily how they want to contribute to the company. Their performance should decide voluntarily how they want to contribute to the company. Their performance should be appraised through a peer evaluation process. Ideally, the compensation committee should decide on the compensation of each independent director based on such a performance appraisal. Auditing is another major area that needs reforms for effective corporate governance. An audit is the Independent examination of financial transactions of any entity to provide assurance to shareholder and other stakeholders that the financial statements are free of material misstatement. Auditors are qualified professionals appointed by the shareholders to report on the reliability of financial statements prepared by the management. Financial markets look to the auditor’s report for an independent opinion on the financial and risk situation of a company. We have to separate such auditing form other services. For a truly independent opinion, the auditing firm should not provide services that are perceived to be materially in conflict with the role of the auditor. These include investigations, consulting advice, sub contraction of operational activities normally undertaken by the management, due diligence on potential acquisitions or investments, advice on deal structuring, designing/implementing IT systems, bookkeeping, valuations and executive recruitment. Any departure from this practice should be approved by the audit committee in advance. Further, information on any such exceptions must be disclosed in the company’s quarterly and annual reports. To ensure the integrity of the audit team, it is desirable to rotate auditor partners. The lead audit partner and the audit partner responsible for reviewing a company’s audit must be rotated at least once every three to five years. This eliminates the possibility of the lead auditor and the company management getting into the kind of close, cozy relationship that results in lower objectivity in audit opinions. Further, a registered auditor should not audit a chief accounting office was associated with the auditing firm. It is best that members of the audit teams are prohibited from taking up employment in the audited corporations for at least a year after they have stopped being members of the audit team.A competent audit committee is essential to effectively oversee the financial accounting and reporting process. Hence, each member of the audit committee must be ‘financially literate’, further, at least one member of the audit committee, preferably the chairman, should be a financial expert-a person who has an understanding of financial statements and accounting rules, and has experience in auditing. The audit committee should establish procedures for the treatment of complaints received through anonymous submission by employees and whistleblowers. These complaints may be regarding questionable accounting or auditing issues, any harassment to an employee or any unethical practice in the company. The whistleblowers must be protected. Any related-party transaction should require prior approval by the audit committee, the full board and the shareholders if it is material. Related parties are those that are able to control or exercise significant influence. These include; parent- subsidiary relationships; entities under common control; individuals who, through ownership, have significant influence over the enterprise and close members of their families; and dey management personnel.Accounting standards provide a framework for preparation and presentation of financial statements and assist auditors in forming an opinion on the financial statements. However, today, accounting standards are issued by bodies comprising primarily of accountants. Therefore, accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies. This body should be independently funded. Currently, an independent oversight of the accounting profession does not exist. Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence. This body should comprise a "majority of non- practicing accountants to ensure independent oversight. To avoid any bias, the chairman of this body should not have practiced as an accountant during the preceding five years. Auditors of all public companies must register with this body. It should enforce compliance with the laws by auditors and should mandate that auditors must maintain audit working papers for at least seven years.To ensure the materiality of information, the CEO and CFO of the company should certify annual and quarterly reports. They should certify that the information in the reports fairly presents the financial condition and results of operations of the company, and that all material facts have been disclosed. Further, CEOs and CFOs should certify that they have established internal controls to ensure that all information relating to the operations of the company is freely available to the auditors and the audit committee. They should also certify that they have evaluated the effectiveness of these controls within ninety days prior to the report. False certifications by the CEO and CFO should be subject to significant criminal penalties (fines and imprisonment, if willful and knowing). If a company is required to restate its reports due to material non-compliance with the laws, the CEO and CFO must face severe punishment including loss of job and forfeiting bonuses or equity-based compensation received during the twelve months following the filing.The problem with the independent directors has been that: I. Their selection has been based upon their compatibility with the company management II. There has been lack of proper training and development to improve their skill set III. Their independent views have often come in conflict with the views of company management. This has hindered the company’s decision-making process IV. Stringent standards for independent directors have been lacking....
MCQ-> A remarkable aspect of art of the present century is the range of concepts and ideologies which it embodies. It is almost tempting to see a pattern emerging within the art field - or alternatively imposed upon it a posteriori - similar to that which exists under the umbrella of science where the general term covers a whole range of separate, though interconnecting, activities. Any parallelism is however - in this instance at least - misleading. A scientific discipline develops systematically once its bare tenets have been established, named and categorized as conventions. Many of the concepts of modern art, by contrast, have resulted from the almost accidental meetings of groups of talented individuals at certain times and certain places. The ideas generated by these chance meetings had twofold consequences. Firstly, a corpus of work would be produced which, in great part, remains as a concrete record of the events. Secondly, the ideas would themselves be disseminated through many different channels of communication - seeds that often bore fruit in contexts far removed from their generation. Not all movements were exclusively concerned with innovation. Surrealism, for instance, claimed to embody a kind of insight which can be present in the art of any period. This claim has been generally accepted so that a sixteenth century painting by Spranger or a mysterious photograph by Atget can legitimately be discussed in surrealist terms. Briefly, then, the concepts of modern art are of many different (often fundamentally different) kinds and resulted from the exposures of painters, sculptors and thinkers to the more complex phenomena of the twentieth century, including our ever increasing knowledge of the thought and products of earlier centuries. Different groups of artists would collaborate in trying to make sense of a rapidly changing world of visual and spiritual experience. We should hardly be surprised if no one group succeeded completely, but achievements, though relative, have been considerable. Landmarks have been established - concrete statements of position which give a pattern to a situation which could easily have degenerated into total chaos. Beyond this, new language tools have been created for those who follow - semantic systems which can provide a springboard for further explorations. The codifying of art is often criticized. Certainly one can understand that artists are wary of being pigeonholed since they are apt to think of themselves as individuals - sometimes with good reason. The notion of self-expression, however, no longer carries quite the weight it once did; objectivity has its defenders. There is good reason to accept the ideas codified by artists and critics, over the past sixty years or so, as having attained the status of independent existence - an independence which is not without its own value. The time factor is important here. As an art movement slips into temporal perspective, it ceases to be a living organism - becoming, rather, a fossil. This is not to say that it becomes useless or uninteresting. Just as a scientist can reconstruct the life of a prehistoric environment from the messages codified into the structure of a fossil, so can an artist decipher whole webs of intellectual and creative possibility from the recorded structure of a ‘dead’ art movement. The artist can match the creative patterns crystallized into this structure against the potentials and possibilities of his own time. As T.S. Eliot observed, no one starts anything from scratch; however consciously you may try to live in the present, you are still involved with a nexus of behaviour patterns bequeathed from the past. The original and creative person is not someone who ignores these patterns, but someone who is able to translate and develop them so that they conform more exactly to his - and our - present needs.Many of the concepts of modern art have been the product of
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