Question

In the following passage, some of the words have been left out, each of which is indicated by a number. Find the suitable word from the options given against each number and fill up the blanks with appropriate words to make the paragraph meaningfully complete. It makes sense for the government to let savers __(1)__ their small savings accounts prematurely. These schemes __(2)__the popular Public Provident Fund (PPF), a long-term saving product on which tax is exempt __(3)__ the time of contribution, up to a limit,__(4)__ accumulation and at the time of withdrawal. But this comes at a high cost to the government, which has to __(5)__ the interest cost and forgo tax. With the diversification of the processes and instruments through which household savings get mediated to the productive sectors of the economy and to the government, the need for the traditional small savings schemes __(6)__ come down. Most states, barring Madhya Pradesh, Arunachal Pradesh, Kerala and Delhi, have __(7)__ away from high-cost small savings and towards cheaper open market loans. It is time to wind down such crude instruments. Savers have the option of superior alternatives such as the National Pension System (NPS), which gives them access __(8)__ more diverse forms of claims on the economy’s production capacity. The reform that is required is to __(9)__ the NPS and the Employees’ Provident Fund Organisation to allocate a part of their large corpus to long-term asset classes such as private equity. For savings that are not locked in for the long period, savers have a __(10)__ of mutual funds.