Which of the following is True about the India-Africa Summit held in April 2008? 1. The summit was 10th such Summit held every year. 2. This time the venue of the summit was India as India hosted it for the first time: 3. About 14 African countrie ?->(Show Answer!)

1. Which of the following is True about the India-Africa Summit held in April 2008? 1. The summit was 10th such Summit held every year. 2. This time the venue of the summit was India as India hosted it for the first time: 3. About 14 African countries participated in the summit.

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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases are printed in bold to help you to locate them while answering some of the questions. The outside world has pat answers concerning extremely impoverished countries, especially those in Africa. Everything comes back, again and again, to corruption and misrule. Western officials argue that Africa simply needs to behave itself better, to allow market forces to operate without interference by corrupt rulers. Ye the critics of African governance have it wrong. Politics simply can't explain Africa's prolonged economic crisis. The claim that Africa's corruption is the basic source of the problem does not withstand serious scrutiny. During the past decade I witnessed how relatively well-governed countries in Africa, such as Ghana, Malawi, Mali and Senegal, failed to prosper, whereas societies in Asia perceived to have extensive corruption, such as Bangladesh, Indonesia and Pakistan, enjoyed rapid economic growth. What is the explanation? Every situation of extreme poverty around the world contains some of its own unique causes, which need to be diagnosed as a doctor would a patient. For example, Africa is burdened with malaria like no other part of the world, simply because it is unlucky in providing the perfect conditions for that disease; high temperatures, plenty of breeding sites and particular species of malaria-transmitting mosquitoes that prefer to bite humans rather than cattle.Another myth is that the developed world already gives plenty of aid to the world's poor. Former U.S. Secretary of the Treasury, Paul O'Neil expressed a common frustration when he remarked about aid for Africa : "We've spent trillions of dollars on these problems and we have damn near nothing to show for it". O'Neil was no foe of foreign aid. Indeed, he wanted to fix the system so that more U.S. aid could be justified. But he was wrong to believe that vast flows of aid to Africa had been squandered. President Bush said in a press conference in April 2004 that as "the greatest power on the face of the earth, we have an obligation to help the spread of freedom. We have an obligation to feed the hungry". Yet how does the U.S. fulfill its obligation? U.S. aid to farmers in poor countries to help them grow more food runs at around $200 million per year, far less than $1 per person per year for the hundreds of millions of people living in subsistence farm households.From the world as a whole, the amount of aid per African per year is really very small, just $30 per sub- Saharan African in 2002. Of that modest amount, almost $5 was actually for consultants from the donor countries, more than $3 was for emergency aid, about $4 went for servicing Africa's debts and $ 5 was for debt-relief operations. The rest, about $12, went to Africa. Since the "money down the drain" argument is heard most frequently in the U.S., it's worth looking at the same calculations for U.S. aid alone. In 2002, the U.S. gave $3 per sub-Saharan African. Taking out the parts for U.S. consultants and technical cooperation, food and other emergency aid, administrative costs and debt relief, the aid per African came to grand total of 6 cents.The U.S. has promised repeatedly over the decades, as a signatory to global agreements like the Monterrey Consensus of 2002, to give a much larger proportion of its annual output, specifically upto 0.7% of GNP, to official development assistance. The U.S. failure to follow through has no political fallout domestically, of course, because not one in a million U.S. citizens even knows of statements like the Monterrey Consensus. But no one should underestimate the salience that it has around the world. Spin as American might about their nation's generosity, the poor countries are fully aware of what the U.S. is not doing.The passage seems to emphasize that the outside world has
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MCQ->Which of the following is True about the India-Africa Summit held in April 2008? 1. The summit was 10th such Summit held every year. 2. This time the venue of the summit was India as India hosted it for the first time: 3. About 14 African countries participated in the summit.....

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold tohelp you locate them while answering some of the questions. During the last few years, a lot of hype has been heaped on the BRICS (Brazil, Russia, India, China, and South Africa). With their large populations and rapid growth, these countries, so the argument goes, will soon become some of the largest economies in the world and, in the case of China, the largest of all by as early as 2020. But the BRICS, as well as many other emerging-market economieshave recently experienced a sharp economic slowdown. So, is the honeymoon over? Brazil’s GDP grew by only 1% last year, and may not grow by more than 2% this year, with its potential growth barely above 3%. Russia’s economy may grow by barely 2% this year, with potential growth also at around 3%, despite oil prices being around $100 a barrel. India had a couple of years of strong growth recently (11.2% in 2010 and 7.7% in 2011) but slowed to 4% in 2012. China’s economy grew by 10% a year for the last three decades, but slowed to 7.8% last year and risks a hard landing. And South Africa grew by only 2.5% last year and may not grow faster than 2% this year. Many other previously fast-growing emerging-market economies – for example, Turkey, Argentina, Poland, Hungary, and many in Central and Eastern Europe are experiencing a similar slowdown. So, what is ailing the BRICS and other emerging markets? First, most emerging-market economies were overheating in 2010-2011, with growth above potential and inflation rising and exceeding targets. Many of them thus tightened monetary policy in 2011, with consequences for growth in 2012 that have carried over into this year. Second, the idea that emerging-market economies could fully decouple from economic weakness in advanced economies was farfetched : recession in the eurozone, near-recession in the United Kingdom and Japan in 2011-2012, and slow economic growth in the United States were always likely to affect emerging market performance negatively – via trade, financial links, and investor confidence. For example, the ongoing euro zone downturn has hurt Turkey and emergingmarket economies in Central and Eastern Europe, owing to trade links. Third, most BRICS and a few other emerging markets have moved toward a variant of state capitalism. This implies a slowdown in reforms that increase the private sector’s productivity and economic share, together with a greater economic role for state-owned enterprises (and for state-owned banks in the allocation of credit and savings), as well as resource nationalism, trade protectionism, import substitution industrialization policies, and imposition of capital controls. This approach may have worked at earlier stages of development and when the global financial crisis caused private spending to fall; but it is now distorting economic activity and depressing potential growth. Indeed, China’s slowdown reflects an economic model that is, as former Premier Wen Jiabao put it, “unstable, unbalanced, uncoordinated, and unsustainable,” and that now is adversely affecting growth in emerging Asia and in commodity-exporting emerging markets from Asia to Latin America and Africa. The risk that China will experience a hard landing in the next two years may further hurt many emerging economies. Fourth, the commodity super-cycle that helped Brazil, Russia, South Africa, and many other commodity-exporting emerging markets may be over. Indeed, a boom would be difficult to sustain, given China’s slowdown, higher investment in energysaving technologies, less emphasis on capital-and resource-oriented growth models around the world, and the delayed increase in supply that high prices induced. The fifth, and most recent, factor is the US Federal Reserve’s signals that it might end its policy of quantitative easing earlier than expected, and its hints of an even tual exit from zero interest rates. both of which have caused turbulence in emerging economies’ financial markets. Even before the Fed’s signals, emergingmarket equities and commodities had underperformed this year, owing to China’s slowdown. Since then, emerging-market currencies and fixed-income securities (government and corporate bonds) have taken a hit. The era of cheap or zerointerest money that led to a wall of liquidity chasing high yields and assets equities, bonds, currencies, and commodities – in emerging markets is drawing to a close. Finally, while many emerging-market economies tend to run current-account surpluses, a growing number of them – including Turkey, South Africa, Brazil, and India – are running deficits. And these deficits are now being financed in riskier ways: more debt than equity; more short-term debt than longterm debt; more foreign-currency debt than local-currency debt; and more financing from fickle cross-border interbank flows. These countries share other weaknesses as well: excessive fiscal deficits, abovetarget inflation, and stability risk (reflected not only in the recent political turmoil in Brazil and Turkey, but also in South Africa’s labour strife and India’s political and electoral uncertainties). The need to finance the external deficit and to avoid excessive depreciation (and even higher inflation) calls for raising policy rates or keeping them on hold at high levels. But monetary tightening would weaken already-slow growth. Thus, emerging economies with large twin deficits and other macroeconomic fragilities may experience further downward pressure on their financial markets and growth rates. These factors explain why growth in most BRICS and many other emerging markets has slowed sharply. Some factors are cyclical, but others – state capitalism, the risk of a hard landing in China, the end of the commodity supercycle -are more structural. Thus, many emerging markets’ growth rates in the next decade may be lower than in the last – as may the outsize returns that investors realised from these economies’ financial assets (currencies, equities. bonds, and commodities). Of course, some of the better-managed emerging-market economies will continue to experitnce rapid growth and asset outperformance. But many of the BRICS, along with some other emerging economies, may hit a thick wall, with growth and financial markets taking a serious beating.Which of the following statement(s) is/are true as per the given information in the passage ? A. Brazil’s GDP grew by only 1% last year, and is expected to grow by approximately 2% this year. B. China’s economy grew by 10% a year for the last three decades but slowed to 7.8% last year. C. BRICS is a group of nations — Barzil, Russia, India China and South Africa.....

MCQ-> Direction : Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.Governments have traditionally equated economic progress with steel mills and cement factories. While urban centers thrive and city dwellers get rich, hundreds of millions of farmers remain mired in poverty. However, fears of food shortages, a rethinking of antipoverty priorities and the crushing recession in 2008 are causing a dramatic shift in world economic policy in favour of greater support for agriculture. The last time when the world's farmers felt such love was in the '70s. At that time, as food prices spiked, there was real concern that the world was facing a crisis in which the planet was simply unable to produce enough grain and meat for an expanding population. Governments across the developing world and international aid organisations plowed investment into agriculture in the early '70s, while technological breakthroughs, like high-yield strains of important food crops, boosted production. The result was the Green Revolution and food production exploded. But the Green Revolution became a victim of its own success. Food prices plunged by some 60% by the late '80s from their peak in the mid- '70s. Policymakers and aid workers turned their attention to the poor's other pressing needs, such as health care and education. Farming got starved of resources and investment. By 2004, aid directed at agriculture sank to 3.5% and 'Agriculture lost its glitter'. Also, as consumers in high-growth giants such as China and India became wealthier, they began eating more meat, so grain once used for human consumption got diverted to beef up livestock. By early 2008, panicked buying by importing countries and restrictions slapped on grain exports by some big producers helped drive prices upto heights not seen for three decades. Making matters worse, land and resources got reallocated to produce cash crops such as biofuels and the result was that voluminous reserves of grain evaporated. Protests broke out across the emerging world and fierce food riots toppled governments. This spurred global leaders into action. This made them aware that food security is one of the fundamental issues in the world that has to be dealt with in order to maintain administrative and political stability. This also spurred the U.S. which traditionally provisioned food aid from American grain surpluses to help needy nations, to move towards investing in farm sectors around the globe to boost productivity. This move helped countries become more productive for themselves and be in a better position to feed their own people. Africa, which missed out on the first Green Revolution due to poor policy and limited resources, also witnessed a 'change'. Swayed by the success of East Asia, the primary poverty?fighting method favoured by many policymakers in Africa was to get farmers off their farms and into modern jobs in factories and urban centers. But that strategy proved to be highly insufficient. Income levels in the countryside badly trailed those in cities while the FAO estimated that the number of poor going hungry in 2009 reached an all time high at more than one billion. In India on the other hand, with only 40% of its farmland irrigated, entire economic boom currently underway is held hostage by the unpredictable monsoon. With much of India's farming areas suffering from drought this year, the government will have a tough time meeting its economic growth targets. In a report, Goldman Sachs predicted that if this year too receives weak rains, it could cause agriculture to contract by 2% this fiscal year, making the government's 7% GDP-growth target look 'a bit rich'. Another green revolution is the need of the hour and to make it a reality, the global community still has much backbreaking farm work to do.Direction: Choose the word/group of words which is most similar it meaning to the word printed in bold as used in the passage. STARVED
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MCQ-> Read the following passage carefully and answer the question given below it.Certain words/phrases have been printed in bold to help you locate them while answering some of the question.Governments have traditionally equated economic progress with steel mills and cement factories. While urban centers thrive and city dwellers get rich, hundreds of millions of farmers remain mired in poverty.However fears of food shortages, a rethinking of anti-poverty priorities and the crushing recession in 2008 are causing a dramatic shift in world economic policy in favour of greater support for agriculture. The last time when the world’s farmer felt such love was in the 1970s. At that time, as food prices spiked, there was real concern that the world was facing a crisis in which the planet was simply unable to produce enough grain and meat for an expanding population.Government across the developing world and international aid organisations plowed investment into agriculture in the early 1970s, while technological breakthroughs, like high-yield strains of important food crops, boosted production. The result was the Green Revolution and food production exploded. But the Green Revolution became a victim of its own success.Food prices plunged by some 60% by the late 1980s from their peak in the mid-1970s. Policy makers and aid workers turned their attention to the poor’s other pressing needs such as health care and education. Farming got starved of resources and investment. By 2004 aid directed at agriculture sank to 3.5 % and Agriculture lost its glitter. Also as consumer in high-growth giants such as China and India became wealthier they began eating more meat so grain once used for human consumption got diverted to beef up livestock. By early 2008 panicked buying by importing countries and restrictions slapped on grain exports by some big producers helped drive prices upto heights not seen for three decades. Making matters worse land and resources got reallocated to produce cash crops such as biofuels and the result was that voluminous reserves of grain evaporated. Protests broke out across the emerging world and fierce food riots toppled governments. This spurred global leaders into action. This made them aware that food security is one of the fundamental issues in the world that has to be dealt with in order to maintain administrative and political stability. This also spurred the US which traditionally provisioned food aid from American grain surpluses to help needy nations to move towards investing in farm sectors around the globe to boost productive for themselves and be in a better position to feed their own people. Africa, which missed out on the first Green Revolution due to poor policy and limited resources, also witnessed a 'change'. Swayed by the success of East Asia the primary poverty-fighting method favoured by many policy-makers in Africa was to get farmers off their farms and into modern jobs in factories and urban centers. But that strategy proved to be highly insufficient. Income levels in the countryside badly trailed those in cities while the FAO estimated that the number of poor going hungry in 2009 reached an all time high at more than one billion. In India on the other hand with only 40% of its farmland irrigated, entire economic boom currently underway is held hostage by the unpredictable monsoon. With much of India’s farming areas suffering from drought this year, the government will have a tough time meeting its economic growth targets. In a report Goldman Sachs, predicted that if this year, too receives weak rains it could cause agriculture to contract by 2 % this fiscal year making the government 7%GDP growth target look "a bit rich". Another green revolution is the need of the hour and to make it a reality, the global community still has much backbreaking farm work to do.What is the author’s main objective in writing the passage ?
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