PTE Academic summarize written text practice test 45

PTE Academic summarize written text practice test

PTE Academic summarize written text practice test.Read the passage below and summarize it using one sentence. Type your response in the comment section at the bottom of the screen. You have 10 minutes to finish this task. Your response will be judged on the quality of your writing and on how well your response presents the key points in the passage.

1.We argue that the role played by technology in boosting employment often goes overlooked because of its more conspicuous destructive effects. The stock of work in the economy is not fixed. The last 144 years demonstrate that when a machine replaces a human the result, paradoxically, is faster growth and, in time, rising employment. Indeed, one only need look at the UK’s employment figures, which have more than doubled since 1871, to see that technological change has coincided with the creation, not destruction, of work.

However, technological change does create policy challenges. If the pace of adoption of technology is accelerating, society will need to prepare for higher levels of technological unemployment. And the way in which change increasingly rewards high-level education and skills suggests that income inequality may yet widen. Rapid advances in technology mean that education, training and the distribution of income are likely to be central to the political debate for many years to come.

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2.The microfinance industry, especially in India, has been a strong enabler in including the financially under served and unserved in the formal financial ecosystem. The positive role played by this sector is evident from the awarding of universal banking and small finance bank licenses to the top MFIs in India. Over the past few years, the microfinance industry has seen strong growth with the introduction of institutional provisions like revision of RBI guidelines for NBFC-MFI operations, launch of MUDRA bank and small bank licenses. MFIs have consistently added value to customers’ livelihood through partnerships with various stakeholders like investors, banks, other financial institutions, credit bureaus, NGOs and other emerging agencies. However, the growth has also been accompanied by challenges such as higher cost of funds, increase in risks due to geographical concentration, increase in cash carrying costs, unavailability of quality technology solutions, rise in cases.

Please write your response in comment section

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4 thoughts on “PTE Academic summarize written text practice test 45

  1. 1. Evidently, technological involvement proves to be more effective than humans but it also bring concerns like unemployment and income inequalities, which will be a challenge in future as per the current rate of technological adoption.

    2. Microfinance Industry not only boosted Indian Economy but also facilitated various organizations small or big with licensing, revising financial guidelines and increase association with financing authorities for customer satisfaction at same time faced challenges and risks.

  2. The micro finance industry unleash powerful growth due to advent of several institutional provisions, however there are vivid challenges are present in the form of risk, absence of better technological solutions etc.

  3. Despite the challenges like unavailability of technology, increased cost, and geographic concentration, the microfinance industry has shown strong growth after the induction of new provisions and made the partnership with different financial bodies.

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