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SBI Clerk Pre-English Language Quiz – 18
English Language is a part of almost all major competitive exams in the country and is perhaps the most scoring section also. Aspirants who regularly practice questions have a good chance of scoring well in the English Language Section. So here we are providing you with the SBI Clerk Pre-English Language Quiz to help you prepare better. This SBI Clerk Pre-English Language Quiz includes all of the most recent pattern-based questions, as well as Previous Year Questions. This SBI Clerk Pre-English Language Quiz is available to you at no cost. Candidates will be provided with a detailed explanation of each question in this IBPS PO Pre English Language Quiz. Candidates must practice this SBI Clerk Pre-English Language Quiz to achieve a good score in the English Language Section.
Directions (1-5): Read the following passage carefully and answer the questions given below it.
Viability of solar power projects in India has become a serious cause for concern. The recent decision of the Supreme Court not to allow a revision of the tariff charged by Tata Power Co. Ltd and Adani Power Ltd for their 4,000MW (megawatt) and 4,620MW Mundra ultra-mega power projects (UMPPs) based on Indonesian coal has added to the woes.
In 2006, it was decided to build UMPPs to take care of India’s crippling power woes. The allocation process was through a reverse tariff competitive bidding process, and the bid tariff was as low as Rs1.19 and Rs2.26 for domestic and imported coal-based UMPPs. But all these years later, only a few of them have been commissioned. One of the reasons for the failure of UMPPs was that when the bids were submitted, coal prices were very low. Subsequently, prices went up, making the projects unviable. The astonishing fact is that contrary to both common sense and international best practice, power purchase agreements (PPAs) with tenures of 25 years were written without a provision for a revision of terms.
The power purchase agreements are for fixed terms (25 years) without any escalation clause, even though there are many recurring expenses over this period. Subsequently, after failing to keep up with the changing market trends, projects become unviable for the operators. Internationally, levelized cost of electricity for solar is around Rs9/kWh while that for coal is approximately Rs4.8/kWh. An expert elicitation survey on solar technologies predicted that by increasing research and development funding by 50%, the cost of solar would come down to Rs4.45/kWh by 2030. From these studies, it is difficult to justify why the solar bid prices in India are so low. Bids in India have gone as low as Rs3.15/kWh. India’s solar programme is heavily dependent on imported solar cells and modules, mainly from China. In 2015-16, India had imported $2,34 billion worth of cells out of which 83.61% were from China. China uses predatory pricing and dumps cheap thin film solar cells to capture the Indian market in the absence of any anti-dumping duty imposed by India. India also lacks a robust manufacturing base for solar components and systems. It also does not have any infrastructure for raw material production. The increased reliance on thin film technologies has augmented the dependence on specific elements like “rare earth” metals in which China has a near monopoly. Under such circumstances, Indian solar project developers may find their projects unviable in the event of currency fluctuations or changes in China’s policy on solar cell and module exports. For both coal and solar power projects, the auction format used for reverse bidding is that of a sealed bid first price auction. The theory of auctions suggests that the use of a sealed bid auction format can lead to a winner’s curse in industries characterized by high uncertainty, or projects with very high time durations. Winning bidders can end up regretting their aggressive bids.
To end the uncertainty in bidding process, the solution is to go for a dynamic auction format where bidders can start from a maximum tariff and go downwards, after observing the pattern of bidding by others. This allows market information to become public, and reduces uncertainty for bidders.
The other way of reducing uncertainty is to adopt a counter-cyclical policy of tendering projects. The global commodities boom of the 2000s led to a bull market for power projects. Companies raised debt capital, mainly from public sector banks at concessional terms, and external commercial entities, on risky terms, to finance power sector projects that were being tendered out by the government. This is an important cause of the current non-performing assets crisis. Instead of riding the global commodities boom by encouraging public sector banks to lend to private companies, and giving project clearances, the government should be a restraining influence in such circumstances. Better governance of public sector banks is urgently needed. There should also be a clause for periodic review of power purchase agreements. Even if they are for fixed term, there should be escalation clause.
In the absence of such measures, despite our best intentions, the experience of thermal power will only be repeated in our solar mission. For government to achieve its ambitious goal of adding 60GW (gigawatt) of medium- and large-scale grid-connected power plants out of a total capacity addition of 100GW by 2022, a careful and informed policy is necessary.
- According to the passage, what challenge(s) is/are being faced by solar sector in India?
(a) Power Purchase agreement is only for fixed term.
(b) Dependence on China for specific elements.
(c) Low solar bid prices
(d) Lack of manufacturing base for solar components and systems.
(e) All of the above
- According to the passage, what needs to be done to improve the solar sector in India?
(i) Dependence on China for raw materials should be minimized.
(ii) Power Purchase agreement should have escalation clause, even if they are for fixed term.
(iii) Adopting a counter cyclical policy of tendering projects
(a) Only (i) is true
(b) Only (ii) is true
(c) Both (i) and (ii) are true
(d) Both (ii) and (iii) are true
(e) All are true
- Which of the following is the most appropriate title of the passage?
(a) The challenges in solar sector.
(b) India’s solar mission and its debt problems.
(c) The counter-cyclical policy in solar project.
(d) The power purchase agreement and escalation clause.
(e) The Ultra Mega power projects in India.
- Which of the following is false in context of the passage?
(a) There is a need of governance of public sector banks.
(b) Winning bidders can end up regretting their aggressive bids.
(c) Developers of India’s solar project may find their projects unviable during currency fluctuations.
(d) The allocation of solar power project was through a reverse tariff competitive bidding process.
(e) All are true.
- According to the passage, what is/are the reason(s) for infeasibility of Ultra mega power project?
(i) Dependence on imported solar cells and modules.
(ii) Due to successive hike in coal prices after bidding.
(iii) Due to non-reviewing of power purchase agreement periodically.
(a) Only (i) is true
(b) Only (ii) is true
(c) Both (i) and (iii) are true
(d) Both (ii) and (iii)
(e) All are true
Directions (6-10): In the passage given below there are blanks which are to be filled with the options given below. Find out the appropriate pair of words in each case which can most suitably complete the sentence without altering the meaning of the statement. Both the pair must fill the blank.
Prime Minister Narendra Modi appears to be under the (6)_____________ that most of us will accept his party’s Congress bashing uncritically and without judging it from a historical point of view. As one who continues to revel in (7) ______________ skills, Mr. Modi must honestly introspect whether he can (8)______________paint black the contributions of the Indian National Congress under the first Prime Minister in nation building. The goal of the Bharatiya Janata Party is stated to be creating a ‘Congress-less India’, which is a (9) ______________ and autocratic policy. It implies that the party does not want to recognise the Opposition and institutions to audit its governance. Mr. Modi must realise that there is nothing (10) ______________to show in terms of people-oriented policies.
- (a) illusion / misconception
(b) ostentatious / tumid
(c) vision / aim
(d) mission / objective
(e) assignment / duty
- (a) dismissive / inordinate
(b) organizing / management
(c) diabolical / infernal
(d) oratorical / rhetorical
(e) unrestricted / unrestrained
- (a) cautiously / guardedly
(b) unscrupulously / immorally
(c) carefully / harmlessly
(d) friendly / pleasantly
(e) awfully / grody
- (a) communal / libertarian
(b) constitutional / egalitarian
(c) despotic / populist
(d) socialist / individualist
(e) dictatorial / totalitarian
- (a) definite / docile
(b) explicit / abstract
(c) concrete / factual
(d) corporeal / indefinite
(e) coagulate / pliable
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