The conclusion of World Trade Organization’s 11th biennial ministerial conference at Buenos Aires was worrisome. From an Indian standpoint, there was no loss as status quo continues in the most important issue: the right to continue the food security programme by using support prices. But the inability of the negotiators to reach even one substantive outcome suggests that WTO’s efficacy is under question. As a 164-country multilateral organisation dedicated to crafting rules of trade through consensus, WTO represents the optimal bet for developing countries such as India. Strengthening WTO is in India’s best interest.
 Perhaps the biggest threat to WTO’s efficacy today is the attitude of the US. The world’s largest economy appears to have lost faith in the organisation and has begun to undermine one of its most successful segments, the dispute redressal mechanism. This is significant as the US has been directly involved in nearly half of all cases brought to WTO. Separately, large groups of countries decided to pursue negotiations on e-commerce, investment facilitation and removal of trade obstacles for medium and small scale industries. By itself this should not weaken WTO. But it comes at a time when there is growing frustration with gridlock at WTO.
 India did well to defend its position on its food security programme. The envisaged reform package which will see a greater use of direct cash transfers to beneficiaries will be in sync with what developed countries do. But it’s important for India to enhance its efforts to reinvigorate WTO. In this context, India’s plan to organise a meeting of some countries early next year is a step in the right direction. WTO represents the best available platform to accommodate interests of a diverse set of nations. Therefore, India should be at the forefront of moves to fortify it.

Why was the WTO’s 11^th binennial ministerial conference worrisome?

Directions: In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

Sound projects on grounds of ______ scrutiny.

Directions: In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

_____ that does not extend credit

Directions: In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

It is ______ no use having a publicly-owned banking.

Directions: In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

Central Vigilance Commissioner has _______ loan officers in the public sector into inaction.

Directions: In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

It ______that fear of being scrutinized by the office.

Select the most appropriate meaning of the given idiom.

Back to square one

In the question, four words are given, out of which only one word is incorrectly spelt. Find the incorrectly spelt word.