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Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (1 - 15): Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.
The current global food situation is very serious and hence, we need to understand the reasons for such a dramatic increase in food prices in a short period.
It is argued that increases in energy costs are resulting in cost push inflation but the contribution of energy costs to overall costs in agriculture may not explain the huge increase in food prices. Related to the current elevated energy prices, there has been a diversion of corn and edible oils to bio-fuels, which is significantly influenced by policy mandates. Very clearly this diversion to bio-fuels is a policy induced new reality, which coincided with price scalation in precisely those products and hence, is noteworthy.
The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices. The recent reductions in interest rates in the U.S. and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view of the turbulence in financial markets and the low returns in treasuries. The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce greater volatility in commodity markets. The weakening of the U.S. dollar is also advanced as a reason for the recent volatility in commodity markets, including food items. It is evident that this phenomenon is now also coinciding with the across the board rise in food prices.
In brief, while there are demand and supply side pressures on food items, there is considerable merit in the argument that the recent extraordinary increases in food prices are closely linked to public policy responses to high energy costs in advanced economies, and the turbulence in financial markets and financial institutions. It is said that the impact of such policy induced diversion of food to bio-fuels is significant at this juncture and reflects a preference to fill the fuel tanks of automobiles rather than fill the empty stomachs of people. Similarly, it is sometimes held that the weight accorded to financial stability in public policy may now be at the expense of stability in real sector - especially of sensitive commodities like food. At the same time, there is a general consensus that public policy in regard to food in many economies around the world has not provided adequate incentive to farmers to increase the supply of food and other agricultural products to comfortably match the growing demand over the medium term.

Direction (16 - 20): In each of the following sentences there are two blank spaces. Below each five pairs of words have been denoted by numbers (1), (2), (3), (4) and (5).Find out which pair of words can be filled up in the blanks in the sentences in the same sequence to make the sentence meaningfully complete.

Direction (16 - 20): In each of the following sentences there are two blank spaces. Below each five pairs of words have been denoted by numbers (1), (2), (3), (4) and (5).Find out which pair of words can be filled up in the blanks in the sentences in the same sequence to make the sentence meaningfully complete.

Direction (16 - 20): In each of the following sentences there are two blank spaces. Below each five pairs of words have been denoted by numbers (1), (2), (3), (4) and (5).Find out which pair of words can be filled up in the blanks in the sentences in the same sequence to make the sentence meaningfully complete.

Direction (16 - 20): In each of the following sentences there are two blank spaces. Below each five pairs of words have been denoted by numbers (1), (2), (3), (4) and (5).Find out which pair of words can be filled up in the blanks in the sentences in the same sequence to make the sentence meaningfully complete.

Direction (16 - 20): In each of the following sentences there are two blank spaces. Below each five pairs of words have been denoted by numbers (1), (2), (3), (4) and (5).Find out which pair of words can be filled up in the blanks in the sentences in the same sequence to make the sentence meaningfully complete.

QDirection (21 - 25): Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
(A) The employees worked very hard taking on all sorts of jobs and we established productivity records which are yet to be broken.
(B) They came round to my way of thinking, everyone gradually fell in line and the agitation petered out.
(C) My posting in Tinsukia gave me the opportunity to explore the lovely land of Assam.
(D) Some however started agitating for officiating allowance for doing a higher level job and work began suffering.
(E) It also provided me with valuable grass-root experience which today's graduates miss, making them more dependent on jagron than on practical experience.
(F) I took a firm stand and refused to yield, as this was unjustified.

QDirection (21 - 25): Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
(A) The employees worked very hard taking on all sorts of jobs and we established productivity records which are yet to be broken.
(B) They came round to my way of thinking, everyone gradually fell in line and the agitation petered out.
(C) My posting in Tinsukia gave me the opportunity to explore the lovely land of Assam.
(D) Some however started agitating for officiating allowance for doing a higher level job and work began suffering.
(E) It also provided me with valuable grass-root experience which today's graduates miss, making them more dependent on jagron than on practical experience.
(F) I took a firm stand and refused to yield, as this was unjustified.

QDirection (21 - 25): Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
(A) The employees worked very hard taking on all sorts of jobs and we established productivity records which are yet to be broken.
(B) They came round to my way of thinking, everyone gradually fell in line and the agitation petered out.
(C) My posting in Tinsukia gave me the opportunity to explore the lovely land of Assam.
(D) Some however started agitating for officiating allowance for doing a higher level job and work began suffering.
(E) It also provided me with valuable grass-root experience which today's graduates miss, making them more dependent on jagron than on practical experience.
(F) I took a firm stand and refused to yield, as this was unjustified.

QDirection (21 - 25): Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
(A) The employees worked very hard taking on all sorts of jobs and we established productivity records which are yet to be broken.
(B) They came round to my way of thinking, everyone gradually fell in line and the agitation petered out.
(C) My posting in Tinsukia gave me the opportunity to explore the lovely land of Assam.
(D) Some however started agitating for officiating allowance for doing a higher level job and work began suffering.
(E) It also provided me with valuable grass-root experience which today's graduates miss, making them more dependent on jagron than on practical experience.
(F) I took a firm stand and refused to yield, as this was unjustified.

QDirection (21 - 25): Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
(A) The employees worked very hard taking on all sorts of jobs and we established productivity records which are yet to be broken.
(B) They came round to my way of thinking, everyone gradually fell in line and the agitation petered out.
(C) My posting in Tinsukia gave me the opportunity to explore the lovely land of Assam.
(D) Some however started agitating for officiating allowance for doing a higher level job and work began suffering.
(E) It also provided me with valuable grass-root experience which today's graduates miss, making them more dependent on jagron than on practical experience.
(F) I took a firm stand and refused to yield, as this was unjustified.

Direction (26 - 30): Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is (5). (Ignore errors of punctuation, if any.)

Direction (26 - 30): Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is (5). (Ignore errors of punctuation, if any.)

Direction (26 - 30): Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is (5). (Ignore errors of punctuation, if any.)

Direction (26 - 30): Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is (5). (Ignore errors of punctuation, if any.)

Direction (26 - 30): Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is (5). (Ignore errors of punctuation, if any.)