Indian Economy and Policy

One valid cause of increased price of manufacturing of machine tools include

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

The small and medium scale industries look for help from India's machine tool industry to

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

The machine tool industry in India must not be allowed to

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

The Government of India

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

The machine tool industry in India

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

The passage is about

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

Choose the word most similar in meaning to the word ‘pushes’ as used in the passage.

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

The machine tool industry in India has to pay higher price for components partly due to

Directions: Read the following passage carefully and answer the question that follows. Some words/phrases are printed in bold to help you locate them while answering the question.

Today, the import duty on a complete machine is 30% for all practical purposes, whereas the import duty on raw materials and components ranges from 35.85%. The story does not end here. After paying such high import duties on components, once a machine is made, it suffers excise duty from 5% – 10% (including on the customs duty already paid). At the time of sale, the machine tools suffer further taxation, i.e. Central Sales Tax or State Sales Tax which range from 4% – 16%. This much for the tax angle. Another factor, which pushes the cost of manufacture of machine tools, is the very high rate of interest payable to banks ranging up to 22%, as against 4% – 7% prevailing in advanced countries.
The production of machine tools in India being not of the same scale as it is in other countries, the price which India's machine tool builders have to pay for components is more or less based on the pattern of high pricing applicable to the prices of spares.
The machines tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builders were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.
It is to be noted that India is at least 6500 km away from any dependable source of supply of machine tools. The Government of India has always given a great deal of importance to the development of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India's machine tool industry to enable them to produce quality components at reduced costs. Is it anybody's case that the needs of the fragile sector (which needs tender care) will be met from 6500 km away?
Then, what is it that the industry requests from the government? It wants a level playing field. In fact, all of us must have a deep introspection and recognise the fact that the machine tool industry has a very special place in the country from the point of strategic and vital interest of the nation. Most importantly, it requests for the Government's consideration and understanding. It is therefore, high time that the government gives due attention to this industry which has good potential.

Global

Directions: Some words in the news item below have been highlighted. Select the best contextual meaning of the related words.

Global retail giant Wal-Mart, waiting for years to open its supermarkets in India has been lobbying with the US lawmakers since 2008 to facilitate its entry into the highly lucrative Indian market.