List of top Verbal Ability & Reading Comprehension (VARC) Questions asked in KMAT KERALA

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Crypto assets, including private crypto currencies and non-fungible tokens, pose a unique challenge to regulators with their issuance as well as the transactions taking place beyond traditional channels involving banks, other financial intermediaries or central banks. With users able to transact on platforms located in other countries and transfer funds easily across borders, ability to tax these transactions and to halt the misuse of these channels for illicit purposes also becomes difficult through unilateral action. Therefore, India and some other countries have been calling for concerted action by all nations and a standardised regulatory framework to regulate these assets. The Crypto-Asset Reporting Framework (CARF), drafted by the OECD, is in response to this. It primarily seeks to enable exchange of information between countries so https://link.testbook.com/bQQ2EkH1bpb https://link.testbook.com/bQQ2EkH1bpb Page- 5 that all crypto asset related transactions or money transfer done by the residents of a country are available with the government and regulators. Indian regulators were extremely concerned about the surge in trading in crypto assets during the pandemic; about 9 to 11 crore users were estimated to be indulging in speculative trading in these assets. But the Centre’s move to tax gains made in trading crypto assets at punitively high rate in the Union Budget of 2022 and mandating crypto trading platforms to deduct TDS of 1 per cent on sale of these assets have helped restrain this speculative fervour effectively. Trading volume on Indian crypto trading platforms is down over 75 per cent over the last one year. But India, as well as other countries are yet to decide whether holding and trading in crypto assets is a legal activity or not. Also, it is currently not possible to acquire information regarding crypto trading transactions by Indian residents on overseas platforms. The CARF regulation outlines a way in which information can be collected from crypto asset trading platforms and service providers and shared with the countries where the traders or users reside. The framework addresses four areas – one, the scope of crypto currencies covered by the rules, two, the entities and individuals mandated to collect the data and the reporting requirement, three, the kind of transactions which have to be reported and four, the due diligence needed to identify the crypto asset users and to identify the tax jurisdiction to which they belong so that information can be exchanged. The model rules contained in the CARF can be included in the domestic laws and the OECD is planning to work with all jurisdictions over the coming months to implement the framework. The OECD has met decent success with the Common Reporting Standard which has resulted in over 100 countries exchanging information regarding 111 million financial accounts in 2021, helping check tax evasion. Replicating this with crypto transactions may be the way forward to bring all countries onboard in adopting similar rules for regulating crypto assets. Though regulatory scrutiny could result in reducing the speculative activity in this segment, users will be pleased as adoption of these rules will make trading and use of crypto assets a legal activity. This will ensure that those who wish to mine and trade in these assets can continue doing so, but under full regulatory glare.
The fundamental requirement for crypto currency regulation is………………………….
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That was why I asked you the question, I replied, because I see that you are indifferent about money, which is a characteristic rather of those who have inherited their fortunes than of those who have acquired them; the makers of fortunes have a second love of money as a creation of their own, resembling the affection of authors for their own poems, or of parents for their children, besides that natural love of it for the sake of use and profit which is common to them and all men. And hence they are very bad company, for they can talk about nothing but the praises of wealth. That is true, he said. Yes, that is very true, but may I ask another question?—What do you consider to be the greatest blessing which you have reaped from your wealth? One, he said, of which I could not expect easily to convince others. For let me tell you, Socrates, that when a man thinks himself to be near death, fears and cares enter into his mind which he never had before; the tales of a world below and the punishment which is exacted there of deeds done here were once a laughing matter to him, but now he is tormented with the thought that they may be true: either from the weakness of age, or because he is now drawing nearer to that other place, he has a clearer view of these things; suspicions and alarms crowd thickly upon him, and he begins to reflect and consider what wrongs he has done to others. And when he finds that the sum of his transgressions is great he will many a time like a child start up in his sleep for fear, and he is filled with dark forebodings. But to him who is conscious of no sin, sweet hope, as Pindar charmingly says, is the kind nurse of his age: ‘Hope,’ he says, ‘cherishes the soul of him who lives in justice and holiness, and is the nurse of his age and the companion of his journey;—hope which is mightiest to sway the restless soul of man.’
Man at his dead bed is………….
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Nearly six decades after the Green Revolution, it appears that the wheel with respect to the general perception on millets is coming full circle. After being reduced to marginal status during the Green Revolution years, millets are slowly regaining favour among policymakers and consumers. Faced with a food shortage in the 1960s, India opted for an input-intensive push that yielded huge productivity gains in wheat and rice. But now the times have changed; India is self-sufficient in wheat and rice output. But the health effects of wheat and rice overconsumption and the impact on the production side on soil and water resources are no longer in dispute. The Centre observed with regret while heralding the New Year as ‘International Year of Millets’ that millets output in India accounted for 40 per cent of all cultivated grains till the 1960s, against about 16 per cent at present, or 45-50 million tonnes a year now. Millets, with their iron, calcium and zinc content, can make a big difference in combating micro-nutrient deficiency in India, besides diabetes and heart disease. Meanwhile, farmers growing millets can make do with 20 cm of rain annually, against 120-140 cm needed for rice. That millets are by default organic — since the crop does not rely on chemicals and pesticides and its essentially small growers lack the resources to use them — actually makes it a big draw in a world where organic produce is in demand. What is not working for millets is its poor prices, low productivity, processing difficulties and above all, insufficient demand. Prices will rise and infrastructure will come up if demand improves, even as research on hybrids is expected to lift yields. Government agencies at the States and Centre are trying out two approaches to lift demand. First, States such as Odisha are raising rural demand through awareness campaigns, while also distributing millet-based meals through mid-day meal programmes in schools and anganwadis, an approach that is likely to boost market prices, particularly if there is a procurement process to back this up. The second approach is to lift urban demand through promotional campaigns. A NABARD paper has suggested that millet foods be served on trains and flights. Ready to cook millets can work for the young in particular. It is possible that as urban demand picks up, it will challenge the decades-old notion of millets being a non-aspirational food meant for the downtrodden. The Centre has raised MSP for millets, but in the absence of procurement and demand (the former being weak because of the latter), prices have not picked up. Production of millets in India, grown primarily in Rajasthan, Maharashtra, Karnataka, Gujarat and Madhya Pradesh, accounts for 41 per cent of global output. Yet, India is only the fifth largest exporter, earning barely $30 million annually. Being grown by small farmers in dry regions, it is ideally suited to Farmer Producer Organisations. The Budget should give millets a financial and institutional push.
The cultivation of millets as popular cereals has not happened due to…………..
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The struggle between Liberty and Authority is the most conspicuous feature in the portions of history with which we are earliest familiar, particularly in that of Greece, Rome, and England. But in old times this contest was between subjects, or some classes of subjects, and the government. By liberty, was meant protection against the tyranny of the political rulers. The rulers were conceived (except in some of the popular governments of Greece) as in a necessarily antagonistic position to the people whom they ruled. They consisted of a governing One, or a governing tribe or caste, who derived their authority from inheritance or conquest, who, at all events, did not hold it at the pleasure of the governed, and whose supremacy men did not venture, perhaps did not desire, to contest, whatever precautions might be taken against its oppressive exercise. Their power was regarded as necessary, but also as highly dangerous; as a weapon which they would attempt to use against their subjects, no less than against external enemies. To prevent the weaker members of the community from being preyed upon by innumerable vultures, it was needful that there should be an animal of prey stronger than the rest, commissioned to keep them down. But as the king of the vultures would be no less bent upon preying on the flock than any of the minor harpies, it was indispensable to be in a perpetual attitude of defence against his beak and claws. The aim, therefore, of patriots, was to set limits to the power which the ruler should be suffered to exercise over the community; and this limitation was what they meant by liberty. It was attempted in two ways. First, by obtaining a recognition of certain immunities, called political liberties or rights, which it was to be regarded as a breach of duty in the ruler to infringe, and which if he did infringe, specific resistance, or general rebellion, was held to be justifiable. A second, and generally a later expedient, was the establishment of constitutional checks; by which the consent of the community, or of a body of some sort, supposed to represent its interests, was made a necessary condition to some of the more important acts of the governing power. To the first of these modes of limitation, the ruling power, in most European countries, was compelled, more or less, to submit. It was not so with the second; and to attain this, or when already in some degree possessed, to attain it more completely, became everywhere the principal object of the lovers of liberty. And so long as mankind were content to combat one enemy by another, and to be ruled by a master, on condition of being guaranteed more or less efficaciously against his tyranny, they did not carry their aspirations beyond this point.
Which one of the following statements is FALSE?
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The moral rules which forbid mankind to hurt one another (in which we must never forget to include wrongful interference with each other's freedom) are more vital to human well-being than any maxims, however important, which only point out the best mode of managing some department of human affairs. They have also the peculiarity, that they are the main element in determining the whole of the social feelings of mankind. It is their observance which alone preserves peace among human beings: if obedience to them were not the rule, and disobedience the exception, everyone would see in every one else a probable enemy, against whom he must be perpetually guarding himself. What is hardly less important, these are the precepts which mankind have the strongest and the most direct inducements for impressing upon one another. By merely giving to each other prudential instruction or exhortation, they may gain, or think they gain, nothing: in inculcating on each other the duty of positive beneficence they have an unmistakeable interest, but far less in degree: a person may possibly not need the benefits of others; but he always needs that they should not do him hurt. Thus the moralities which protect every individual from being harmed by others, either directly or by being hindered in his freedom of pursuing his own good, are at once those which he himself has most at heart, and those which he has the strongest interest in publishing and enforcing by word and deed. It is by a person's observance of these, that his fitness to exist as one of the fellowship of human beings, is tested and decided; for on that depends his being a nuisance or not to those with whom he is in contact. Now it is these moralities primarily, which compose the obligations of justice. The most marked cases of injustice, and those which give the tone to the feeling of repugnance which characterizes the sentiment, are acts of wrongful aggression, or wrongful exercise of power over some one; the next are those which consist in wrongfully withholding from him something which is his due; in both cases, inflicting on him a positive hurt, either in the form of direct suffering, or of the privation of some good which he had reasonable ground, either of a physical or of a social kind, for counting upon.
Moral rules ultimately pave way to………………….