When we talk about any market it comes to our mind that a market consists of many shops, outlets, stalls, hawkers and now newly developed markets known as malls. Very obvious all these are essential parts of any market but when we talk about Money Market means that there are hundreds of shops selling money.
No doubt there are such places also where we see the currency notes and coins piled up on a table or counter but all these shops of money are just dealing in exchange of money on two accounts- First they deal with exchanging old,torn, mutilated , and such currency notes which are not usually accepted by common shopkeepers.
The money market is entirely different where no visible shops are counters exist.
It comprises of different types of companies, institutions, firms, individuals who are either in need of money or are havingsurplusmoney. The entities in need of money seek financial help from this market against some payables and the entities having surplus funds, deploy their surplus money in gainful way.
Money market basically refers to a section of the financial market where financial instruments with high liquidity and short-term maturities are traded. Money market is that component of the financial market which is used for buying and selling of securities of short-term maturities, of one year or less.
Money market instruments offer low risk, their returns are significantly lower than those of other securities.
Withdrawing money from the money market is easier. Money markets are different from capital markets as they are for a shorter period of time while capital markets are used for longer time periods.
The money market is used by a wide array of participants, from a company raising money by selling commercial paper into the market to an investor purchasing Certificate of Deposits as a safe place to park money in the short term.
Money market consists of two sectors- organized sector comprising the Reserve Bank of India and commercial banks, and unorganized sector having an indigenous stint.
The functions and activities of organized sector of money market are coordinated by the RBI.
Theorganizedsector of the Indian money market can be divided into sub-markets.
The call money market (CMM) is the market where overnight (one day) loans can be availed by banks to meet liquidity. Banks who seek to avail liquidity, approach the call market as borrowers and the ones who have excess liquidity, participate there as lenders.
Call Money Market is the main market oriented mechanism to meet the liquidity requirements of banks. Call Money refers to the borrowing or lending of funds for 1 day. Notice Money refers to the borrowing and lending of funds for 2-14 days and Term money refers to borrowing and lending of funds for a period of more than 14 days.
Treasury bill market is the market for the sale and purchase of short term government securities. These securities are called treasury bills which are promissory notes or financial bills issued by RBI on behalf of the government of India. In other words, it can be said that when government goes to the financial market to raise money, it can do it by issuing two types of debt instruments – treasury bills and government bonds. Treasury bills are issued when the government need money for a shorter period while bonds are issued when it need debt for more than say five years.
Market for theCertificate ofDeposit(CDs) again an important segment of Indian money market. It is issued by the commercial bank.A certificate of deposit is an agreement to deposit money for a fixed period with a bank that will pay you interest.
Market for the commercial papers is the market where commercial papers are traded.Commercial paper is an unsecured, short-term debt instrument issued by a corporate house, have working capital more than or equal to rupees 5 crore. It is typically issued for the financing of accounts payable and inventories, and meeting short-term liabilities.
The money market plays an important part in the economy of every nation and has specific role particularly in short term financing. It helps in maintaining balance between demand and supply of short term monetary transactions.
Money market plays a very important role by making funds available to many units or entities engaged indiversifiedfield of activities be it agriculture, industry, trade, commerce or any other business.
By providing funds to developing sectors it helps in growth of economy also.
No doubt it provides a base for the implementation of monetary policy also. The money market provides opportunity for short term investments.
Money market is integral part of financial market where instruments of high liquidity with very short period of maturity are traded. The money circulated throughout the money market, finances short-term borrowing by large corporations and the government. This borrowing allows both businesses and government agencies to continue to spend the money on programs and expansion projects necessary to encourage economic growth.
1) According to the passage, in order to meet their liquidity requirements, banks reach which of the following markets?
a) treasury bill market
b) commercial bill market
c) call money market
d) commercial paper market
e) short term loan market
2) According to the passage, which of the following functions, is not played by the money market?
a) provide opportunity for short term investment
b) discounting bill of exchange
c) promote the growth of the economy
d) provide base for implementing monetary policy
e) make funds available to business units
3) According to the passage, which of the followings is not the feature of money market?
a) easy withdrawal of money
b) high liquidity
c) lower return
d) lower risk
e) securities of long term maturities
4) According to the passage, for financing its short term liabilities, which of the following instruments can be used by the business house?
a) bond
b) treasury bill
c) fixed deposit
d) commercial paper
e) certificate of deposit
5) Which of the following statements is true in the context of the passage?
a) Certificate of deposit is issued by listed company or business firm.
b) Money market instruments offer higher risk.
c) Notice Money refers to the borrowing and lending of funds for 2-14 days.
d) None of the above
e) All are true
6) Find the incorrect statement on the basis of the given passage.
a) The money market plays an important part in the economy of every nation
b) Commercial paper is an unsecured, short-term debt instrument.
c) Listed companies are the only participants of money market.
d) The functions and activities of organized sector of money market are coordinated by the RBI.
e) All are correct
7)Choose the word which as same meaning as the word “torn”
a) seamless
b) pristine
c) tattered
d) immaculate
e) intact
8)Choose the word which as same meaning as the word “organized”
a) muddled
b) structured
c) chaotic
d) tangled
e) cluttered
9)Choose the word which as opposite meaning as the word “diversified”
a) swelled
b) split off
c) branched out
d) inflated
e) unvaried
10)Choose the word which as opposite meaning as the word “surplus”
a) superfluous
b) surfeit
c) slippage
d) redundant
e) plethora
1) Answer: c)
It is mentioned in the passage that the call money market (CMM) is the market where overnight (one day) loans can be availed by banks to meet their liquidity requirements.
2) Answer: b)
According to the passage, money market does not provide the facility of discounting the bill of exchange as it is not mentioned in the passage.
3) Answer: e)
According to the passage, ‘securities of long term maturities’ is not the feature of money market as it is given in the passage that money market basically refers to a section of the financial market where financial instruments with high liquidity and short-term maturities are traded.
4) Answer: d)
It is given in the passage that Commercial paper is an unsecured, short-term debt instrument issued by a corporate house for the financing of accounts payable and inventories, and meeting short-term liabilities.
5) Answer: c)
According to the passage true statement is “Notice Money refers to the borrowing and lending of funds for 2-14 days.”
6) Answer: c)
It is mentioned in the passage that money market is used by a wide array of participants, from a company raising money by selling commercial paper into the market, to an investor purchasing Certificate of Deposits as a safe place to park money in the short term.
7) Answer: c)
The meaning of “torn” is “ragged /worn out”.
8) Answer: b)
The meaning of “organized” is “structured / prearranged”.
9) Answer: e)
The meaning of “diversified” is “split off/ branched out” and its opposite is “concentrated /unvaried”.
10) Answer: c)
The meaning of “surplus” is “plethora / superfluous” and its opposite is “deficit/ slippage”.
In recent months, several places in north India experienced unseasonal dust and thunderstorms, followed by unseasonal rains. This has cost lives and led to extensive crop damage. Withfreakweather events becoming more common, protection of farmers against these risks figures prominently in the government’s agricultural policy. From the Comprehensive Crop Insurance Scheme (1985) through the National Agriculture Insurance Scheme (1999-2000), Modified National Agriculture Scheme (2010) and on to the Pradhan Mantri Fasal Bima Yojana (PMFBY) (2016), India’s agricultural insurance schemes have undergone several changes in their approaches. Mitigating risk in the agricultural sector has a direct implication for agricultural productivity and farmer welfare. It also intersects with some of the key sustainable development goals such as ending poverty, achieving food security and curbing hunger. Pradhan Mantri Fasal Bima Yojana aims at supporting sustainable production in agriculture sector by following ways: Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events, stabilizing the income of farmers to ensure their continuance in farming, encouraging farmers to adopt innovative and modern agricultural practices, Ensuring flow of credit to the agriculture sector which contributes to food security, crop diversification and enhancing growth and competitiveness of agriculture sector besides protecting farmers from production risks. This scheme covers following crops, Food crops (Cereals, Millets and Pulses), Oilseeds, Annual Commercial / Annual Horticultural crops. The scheme covers yield loss, post-harvest loss and localized calamities. Following risks leading to crop loss are to be covered under the scheme: Yield Losses which includes Natural Fire and Lightning; Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado etc.; Flood, Inundation and Landslide; Drought, Dry spells; Pests/ Diseases etc. in post-Harvest Losses coverage is available upto a maximum period of 14 days from harvesting for those crops which are kept in cut & spread condition to dry in the field after harvesting, against specific perils of cyclone, cyclonic rains, unseasonal rains throughout the country. Localised Calamities which includes loss resulting from occurrence of identified localized risks i.e. hailstorm, landslide, andInundationaffecting isolated farms in the notified area.
In spite of the government’s good intentions, assessments of the PMFBY face several challenges that make processing and verification of insurance claims error-prone and time-consuming. Payouts do not reach farmers at the right time and in amountscommensuratewith their losses. Many experts and organizations working in this area are now recommending the use of information and communication tools to help farmers regain faith in crop insurance schemes and make them more efficient and transparent. The International Initiative for Impact Evaluation has funded a number of studies that explore the feasibility of using ICTs in the field of agricultural risk mitigation. A 3ie-funded study conducted by researchers at the International Food Policy Research Institute demonstrates how to capitalize on the availability of low-cost internet and the rising use of smartphones. The novel picture-based insurance product welds technology with weather index based insurance. Farmers are asked to take pictures from the same site with the same view frame two to three times a week throughout the cropping season. The series of images thus created helps insurance agencies examine the condition of the crops. Based on the assessment, payments for losses are directly issued to the farmers’ bank accounts. Additionally, the application also provides customized agricultural advisory to farmers by experts, ensuring continual interaction. Initial findings have been promising. Another study by the Centre for Budget and Policy Studies examines the PMFBY in Karnataka, which incorporates the use of mobile technology to record and upload the crop-cutting experiments, a mechanism to determine the overall yield of the village. An Android-based mobile application records and transmits the CCE data using smartphones. This data is transferred to the central crop insurance portal, making it available in real time to government officials and insurance companies.
The smartphone data improves data quality as it contains vital information, such as photos and videos of the particular area, geo-tagging and time stamping crop area, probable harvest date, net weight of the produce obtained after harvesting and weight of the wet yield. The use of ICT is expected to quicken compilation of data, verification and faster settlement of claim. The use of mobile-based technology can also help allied activities. Throughout India, the adoption of livestock insurance is much lower than crop insurance. This study by the Institute of Financial Management and Researchcorroboratedthe importance of having sufficient infrastructure and network to roll out the product. ICTs can address not only supply side and process-related bottlenecks but also influence behaviour change on the demand side. For example, ICTs such as the PBI that require farmers to participate may induce farmers to develop a vigilant attitude towards any loss of crop. Indeed, a number of farmers reported that visiting their fields more, even if it was to take photographs, made them more aware of the state of their crops. This may outweigh the commonly assumed risk that farmers may wilfully neglect their farms once these are insured. An encouraging finding from a formative evaluation of the PBI shows that farmers in a randomly assigned treatment group that received PBI were no more likely to report lower yields than a control group that received a regular WBI. Formative and process evaluations of ICT-based programmes, usually done at the beginning of a programme spanning over a few months, can help policymakers take prompt programme-specific decisions. These evaluations typically have small sample sizes. By identifying various challenges, such evaluations can lead to better programme selection and design that are cost-effective. However, policymakers often demand more rigorous evidence to take informed decisions to scale up ICT-based programmes that aid agricultural insurance schemes. Impact evaluations that are based on counterfactuals with a large sample size, and conducted over a longer period, can surely inform scaling up and replicability of such programmes. And in turn, the resultant socioeconomic impact will help farmers across India.
1) According to the passage what does International Initiative for Impact Evaluation funded study conducted by researchers demonstrates?
i) How to gain on the availability of low-cost internet
ii) How to to scale up ICT-based programmes
iii) How to capitalize on the rising use of smartphones.
a) i and ii
b) ii and iii
c) Only i
d) i and iii
e) None of these
2) According to the passage what kind of losses is not covered under Pradhan Mantri Fasal Bima Yojana?
a) Natural Fire and Lightning
n) Inundation and Landslide
c) Cyclone and Typhoon
d) Unseasonal rains throughout the country
e) Grazed or destroyed by domestic or wild animals
3) According to the passage which of the following statements have been mentioned correct about information and communication tools?
i) The use of ICT is expected to quicken compilation of data, verification and faster settlement of claim.
ii) The use of ICTs can influence behaviour change on the demand side.
iii) With the help of ICT Payouts reach farmers at the right time
a) ii and iii
b) i and iii
c) i and ii
d) Only i
e) None of these
4) Which of the following is true in the context of the passage?
i) Comprehensive Crop Insurance Scheme was launched in 1985 while National Agriculture Insurance Scheme was launched in 1998
ii) Pradhan Mantri Fasal Bima Yojana scheme covers Food crops such as Cereals, Millets and Pulses
iii) Pradhan Mantri Fasal Bima Yojana covers three types of losses such as yield loss, post-harvest loss and localized calamities.
a) i and iii
b) ii and iii
c) i and ii
d) Only ii
e) None of these
5) Which of the following sustainable development goal is not mentioned in the passage?
a) Achieving food security
b) Clean water and sanitation
c) Curbing hunger
d) Ending poverty
e) Both a) and b)
6) According to the passage which of the following statements are mentioned as a motives of Pradhan Mantri Fasal Bima Yojana?
i) The scheme aims at Providing financial support to farmers suffering crop loss arising out of unexpected events
ii) The scheme aims at preserving the income of farmers to their continuance in farming
iii) The scheme aims at urging farmers to adopt innovative and modern agricultural practices
a) ii and iii
b) i and ii
c) Only ii
d) i and iii
e) All are correct
7) Choose the word which is most nearly thesame in meaningas the word “corroborated” printed in bold as used in the passage
a) Refute
b) Substantiate
c) Abrogate
d) Annihilate
e) Revoke
8) Choose the word which is most nearly thesame in meaningas the word “commensurate” printed in bold as used in the passage
a) Proportionate
b) Jarring
c) Antipodal
d) Factious
e) Conflicting
9) Choose the word which is mostopposite in meaningof the word “inundation” in bold as used in the passage.
a) Downpour
b) Cascade
c) Spate
d) Deluge
e) Dearth
10) Choose the word which is mostopposite in meaningof the word “freak” in bold as used in the passage.
a) Conceit
b) Quirk
c) Prevalent
d) Mutant
e) Anomaly
1) Answer: d)
It is mentioned in para 2- A 3ie-funded study conducted by researchers at the International Food Policy Research Institute demonstrates how to capitalize on the availability of low-cost internet and the rising use of smartphones.
2) Answer: e)
It is clearly mentioned in para 1- Following risks leading to crop loss are to be covered under the scheme: Yield Losses which includes Natural Fire and Lightning; Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado etc.; Flood, Inundation and Landslide; cyclonic rains, unseasonal rains throughout the country.
3) Answer: c)
It is mentioned in para 3- The use of ICT is expected to quicken compilation of data, verification and faster settlement of claim. ICTs can address not only supply side and process-related bottlenecks but also influence behaviour change on the demand side.
4) Answer: b)
It is mentioned in para 1- From the Comprehensive Crop Insurance Scheme (1985) through the National Agriculture Insurance Scheme (1999-2000) and on to the Pradhan Mantri Fasal Bima Yojana (2016), India’s agricultural insurance schemes have undergone several changes in their approaches. This scheme covers following crops, Food crops (Cereals, Millets and Pulses), Oilseeds, Annual Commercial / Annual Horticultural crops. The scheme covers yield loss, post-harvest loss and localized calamities.
5) Answer: b)
It is mentioned in para 1- Mitigating risk in the agricultural sector has a direct implication for agricultural productivity and farmer welfare. It also intersects with some of the key sustainable development goals such as ending poverty, achieving food security and curbing hunger.
6) Answer: e)
It is clearly mentioned in para 1- Pradhan Mantri Fasal Bima Yojana aims at supporting sustainable production in agriculture sector by following ways: Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events, stabilizing the income of farmers to ensure their continuance in farming, encouraging farmers to adopt innovative and modern agricultural practices.
7) Answer: b)
The meaning of corroborated is to confirm or give support to something
8) Answer: a)
The meaning of commensurate is corresponding in size or degree; in proportion
9) Answer: e)
The meaning of inundation is an overwhelming abundance of people or things.
10) Answer: c)
The meaning of freak is unusual or abnormal
A city can be defined as ‘smart’ when investments in human and social capital and traditional and modern communication infrastructure fuel sustainable economic development and a high quality of life, with a wise management of natural resources, through participatory action and engagement. It’s unlikely to surprise many that Asia has been named in a recent study as the global smart city leader of the future. The study, a white paper titled Evolution of Smart Cities and Connected Communities has singled out Asia as a future leader in smart city initiatives. Two key factors in smart city growth, according to the paper, are increasing populations and ongoing global urbanization. With more and more people choosing the urban life, there’s a greater need for the efficiency that smart city projects afford- think London and New York’s congestion-reducing public transport initiatives. India on its development pathway faces a similar urban challenge. According to the 2011 census, about 32 per cent of the country’s population lives in urban areas as against 28 per cent in 2001 and 17 per cent in 1991. Projections of Census of India 2011 data suggested that urban population was about to grow at the pace of 2.83 per cent from 340 million in 2008 to 590 million in 2030, living in at least 60 cities with a population of more than one million. By 2039, most estimates consider India to be 50 per cent urbanized. To keep pace with that, India would have to spend $1.2 trillion in its urban areas. While, worldwide there is a call to battle global challenges like climate change, poverty, inequality and sporadic development in developing societies through transformative sustainability, innovation and low-carbon societies, there is asmolderingpressure from Indian urbanites for enhanced economic growth, job creation, systems efficiency, urban renewal, municipal reform and international living standards. Hence, with the recent announcement of 100 new smart cities, Government of India has strategically responded to both the international and the domestic audience. With development reaching an increasingly large number of people, the pace of migration from rural areas to cities is increasing. The Union Urban Development Minister clarified that, ‘Smart Cities’ should bring quality of life with inclusivity”. The Minister talking on future urban development plans further suggested that there could be two different schemes, one for renewal of 500 urban habitations and the other for Smart Cities. This as we know, has now materialized into the Atal Mission for Rejuvenation and Urban Transformation and Smart Cities Mission respectively Smart cities concept was born in 2008, when IBM introduced this concept as a part of its Smarter Planet Initiative.
There are some successful smart cities in other countries such as Amsterdam, Barcelona & Stockholm etc. It is expected that in India, by 2050, 70% of the population lives in cities. But the present cities are not capable toaccommodatethe growing migrants. 500 new cities are needed by then according to futurologists. To address this challenge, Govt of India launched ‘Smart cities Mission’ in 2015. 98 cities were selected under this project. And these cities will be developed as smart cities in 5 years duration. In the first stage, 20 cities were selected for the financial year 2015-16. For the next two years, 40 and 38 cities respectively will be included in the mission. In the west, a smart city is more IT focused. But here, in India, smart city is the one that promises essential needs like clean water, electricity, sustainable environment, affordable housing etc with the integration of IT services. The smart cities in India are being designed to drive economic growth and also to give a decent quality of life to the citizens. The approx budget for this mission is 1 lakh crore rupees. Center will provide 48,000 crores in the next five years and respective state governments will provide another 48,000 crores. On top of this, investments will be provided through Public-Private Partnership model. There are several pros associated with the mission such as; the main aim of constructing a smart city is to provide good infrastructure to the residents, such as water and sanitation services, 24*7 electricity supply. Smart cities are required as it would also provide smart solutions such as providing public data, electronic service delivery, 100% treatment of water waste, monitoring water quality etc. Smart cities enhance the developmental activities of a region. A lot of developmental activities such as building schools, organizations, shopping malls can take place. These activities benefit everybody including citizens, businesses, government and environment. The main aim of a smart city is “housing for all”. Due to the rising urbanization, a better standard of living is required. To support this rising shift, a sustainable model of housing should be developed. A smart city is an economy ofagglomeration. It provides various opportunities and advantages to its residents. India is expanding rapidly and the emergence of smart city can provide employment for many.
Many opportunities will be created not just to IT people but to many. So this can reduce the unemployment to some extent. This can solve the problem of slums and the growing need for accommodation in cities. Smart cities are going to be more citizen-centric. This will be a good step towards bottom-up approach in governance. Smart initiates will reduce the cost of infrastructure, thereby making the housing cheaper and affordable. Improved transport system will have a great effect on economy. Though the capital amount is huge, the benefits can recover the investment in future. In practice, the Smart Cities challenge in India not only seeks technological leapfrogging but a giant leap of faith. Unlike smart phones and smart card technology, smart cities could neither be imported nor transplanted, they probably need to be adapted to the local context and assessed for their value to urban sustainability. This poses numerousinterveningissues as discussed here: Smart cities initiative will develop the already developed cities but not the poor villages. Instead of looking at solutions to accommodate the migrants from rural areas, it’s better to look at the solutions to increase the employment opportunities at villages. Huge investment may make the life in smart cities more costly and unaffordable to many. Gated communities may develop there, which makes it a rich people zone. This can encourage slums. As everything is integrated with technology, there will be a big data collection, putting privacy at risk.
1) According to the passage what are the various merits of smart city mission in India?
i. It will promote development and also enhance the developmental activities of a region.
ii. Housing for All is the main aim of a smart city as due to the rising urbanization, a better standard of living is required.
iii. Advanced communication techniques are used to send guidance data to the network.
a) ii and iii
b) i and ii
c) i and iii
d) Only i
e) None of these
2) According to the passage what are the major factors in smart city growth?
a) increasing populations
b) sustainability of growth
c) Ongoing global urbanization.
d) Inclusiveness in technology
e) Both a) and c)
3) Which of the following is true in the context of the passage?
i. It is estimated that India to be 50 per cent urbanized by 2030
ii. Smart cities would provide smart solutions such as providing public data, electronic service delivery, 100% treatment of water waste etc
iii. As per 2011 census, about 32% of the country’s population lives in urban areas as against 28% in 2001
a) i and ii
b) ii and iii
c) i and iii
d) Only iii
e) All are correct
4) According to the passage what are the disadvantages associated with the smart cities?
i As there will be huge investment hence it will make the life in smart cities more costly and unaffordable.
ii. Due to over-reliance digitalization will make us vulnerable to cyber-attacks.
iii. The initiative aims to develop the already developed cities but not the poor villages.
a) Only iii
b) i and ii
c) ii and iii
d) i and iii
e) All are correct
5) Which of the following has been mentioned correct as per the Projections of Census of India 2011 data?
a) The urban population to grow at the pace of 2.83% from 340 million in 2008 to 590 million in 2030
b) More than one million population will live in cities by 2025
c) Due to increased urbanization India would have to spend $1.2 trillion in its urban areas.
d) 98 cities were selected under the project of Smart cities Mission
e) None of these
6) Which of the following is not true in the context of the passage?
a) Smart cities concept was introduced by IBM as a part of its Smarter Planet Initiative.
b) The budget of smart cities mission is approximately two lakh crore rupees.
c) Twenty cities were selected for the financial year 2015-16 in the first stage of the mission
d) The government suggested that there could be two different schemes in order to fulfill the urban development initiative, one will be Atal Mission for Rejuvenation and Urban Transformation and other will be Smart Cities Mission
e) None of these
7)Choose the word which is most nearly the same in meaning as the word “smoldering” printed in bold as used in the passage.
a) Recessing
b) Congealing
c) Glaciating
d) Festering
e) Suspending
8)Choose the word which is most nearly the same in meaning as the word “intervening” printed in bold as used in the passage.
a) Meddling
b) Reconciling
c) Evacuating
d) Interceding
e) Obtruding
9)Choose the word which is most opposite in meaning of the word “agglomeration” printed in bold as used in the passage
a) Aggregation
b) Diffusion
c) Assemblage
d) Congeries
e) Amassment
10)Choose the word which is most opposite in meaning of the word “accommodate” printed in bold as used in the passage
a) Debilitate
b) Attune
c) Integrate
d) Accord
e) Accustom
1) Answer: b)
It is mentioned in para 2- Smart cities enhance the developmental activities of a region. A lot of developmental activities such as building schools, organizations, shopping malls can take place. The main aim of a smart city is “housing for all”. Due to the rising urbanization, a better standard of living is required.
2) Answer: e)
It is mentioned in para 1- Two key factors in smart city growth, according to the paper, are increasing populations and ongoing global urbanization.
3) Answer: d)
It is mentioned in para 1&2- According to the 2011 census, about 32 per cent of the country’s population lives in urban areas as against 28 per cent in 2001 and 17 per cent in 1991.
4) Answer: e)
It is mentioned in para 3- In practice, the Smart Cities challenge in India not only seeks technological leapfrogging but a giant leap of faith. This poses numerous intervening issues as discussed here: Smart cities initiative will develop the already developed cities but not the poor villages. Instead of looking at solutions to accommodate the migrants from rural areas, it’s better to look at the solutions to increase the employment opportunities at villages. Huge investment may make the life in smart cities more costly and unaffordable to many.
5) Answer: a)
It is mentioned in para 1-Projections of Census of India 2011 data suggested that urban population was about to grow at the pace of 2.83 per cent from 340 million in 2008 to 590 million in 2030, living in at least 60 cities with a population of more than one million
6) Answer: b)
It is mentioned in para 1&2- The Minister talking on future urban development plans further suggested that there could be two different schemes, one for renewal of 500 urban habitations and the other for Smart Cities. This as we know, has now materialized into the Atal Mission for Rejuvenation and Urban Transformation and Smart Cities Mission respectively Smart cities concept was born in 2008, when IBM introduced this concept as a part of its Smarter Planet Initiative. In the first stage, 20 cities were selected for the financial year 2015-16. For the next two years, 40 and 38 cities respectively will be included. The approx budget for this mission is 1 lakh crore rupees.
7) Answer: d)
The meaning of word smoldering is to erupt or churn
8) Answer: c)
The meaning of word intervening is to prevent or alter a result or course of events.
9) Answer: b)
The meaning of word agglomeration is a mass or collection of thing
10) Answer: a)
The meaning of word accommodate is to assist or aid