Night Class: English Quiz

 Mr. Padmanabhan …(1)… that there were risks …(2)… with full capital account …(3)… . Yet, he felt that resisting liberalization over an extended period could prove futile and counter-productive. As the economy got more globalised, it would become harder to …(4)… closed capital accounts, Mr. Padmanabhan said. "…(5)… openness to international trade may create opportunities for …(6)… of capital account restrictions through under- and over-invoicing of trade transactions, and the increasing …(7)… of investors and global financial markets makes it much easier to do so,’’ he conceded. Corporates could use transfer pricing to get around capital account restrictions, he said. However, keeping any restriction for too long could prove self-defeating as people ended up finding new methods of bypassing that …(8)…, he added. Ipso facto, he felt, India should move towards full capital account convertibility. "There is simply no escape from it,’’ Mr. Padmanabhan asserted. 

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Directions (9- 10): Which of the phrase (a), (b), (c), (d) given below each sentences should replace the phrase printed in bold to make the sentence grammatically correct? If the sentence is correct as it is, mark (e) is ‘No correction required’ as the answer. 

 9. He has visited many places all over the city looked at the perfect location to set up his factory.

10. No traffic will be allowed in this area since the minister visit scheduled today.