1. Violence in the Terai can only make it difficult for that process to materialise. It would be good if all _____________ realise this. There are many in the top Indian leadership who wish to see Nepal enjoy the _____________ multi-party democracy and federalism in full measure. Some of them can surely muster sufficient goodwill in Kathmandu_____________ the Nepalese leadership to set up a Commission to look into the grievances of the Madhesis and the Tharus - especially with respect to _____________ of provinces and adequate representation.

2. On its part - China created the Shanghai Cooperation Organisation (SCO) _____________ its geopolitical and geoeconomic interests in Eurasia. The US _____________ to created mega-regional trade groups - the Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade andInvestment Partnership (TTIP) - to deal with the Chinesetrade threat. Diplomats and analysts will debate forever onthe _____________ of these and other such associations - groups - alliances and partnerships. Some succeed in their objectives - many fail. _____________ - more are getting created.

3. Countries that keep adapting institutions and policies can maintain rapid growth _____________ others - Harvard's Dani Rodrik has long argued. Strategies that work for moving from low to middle income must change for progress to upper-middle income - or later to high income. Such adaptations are difficult. Hence - discontinuities are far_____________ than sustained growth. Acemoglu and Robinson emphasise the role of institutions -” these needto keep _____________ sophistication and quality. Constant improvements _____________ in the quality of government services - transaction and accounting practices - transparency and accountability - and predictability of policies and legal interpretations.

4. The reversal of FII flows would also stem the _____________ in emerging market currencies. With the rupee stabilising and the US Fed's rate hike decision behind - the RBI would now be less constrained in easing rates in India. India is among the few large economies that can offer monetary_____________ to aid growth. The rate cuts - I believe - may not necessarily wait for scheduled policy announcements. Over the next three months - I would expect RBI to cut rates by 50 basis points. This _____________ some pressure on debt servicing - and will also have a positive _____________ on retail credit in the second half of FY16.

5. Many businessmen - including small traders - are becoming NRIs. Or asking their kin not to return to India after completing their studies or employment _____________. In2015 - _____________ reversing the money drain - the government is aiding it. Amidst all the talk about attracting FDI - what can be a bigger PR disaster than home-grown business leaders planning _____________ their residences and investments overseas? It comes as little surprise that India _____________ the Foreign Direct Investment ConfidenceIndex's Top 10 list for the first time in 10 years.

6. Through the 'product envelopment' strategy - firms expand features of their platforms and offerings. The _____________ Myntra by Flipkart for about $300 million is a notable example. This has helped Flipkart _____________ its product line in fashion apparel and target brand-conscious customers. By acquiring Freecharge - Snapdeal could_____________ the mobile payment platform into its ecommerce offerings. The same holds for Flipkart recently acquiring FX Mart - which provides a prepaid wallet licence so that payment platforms _____________ into Flipkart's online stores platform.

7. Yet - despite having the world's largest youth market - India has one of the _____________ shares of the annual $100- billion global character and entertainment licensing industry. Asian characters like Pokemon - Dragonball Z and Doraemon _____________ household names around the world - and countries like Japan - South Korea and China have built multi-billion-dollar character entertainment industries. Yet - India - a culture with some of the _____________ and rich storytelling the world has _____________ - hasn't come close to unlocking its amazing vault of creativity in this space.

8. Despite its fears of migrants - India has been home to_____________ Nepalis and Bangladeshis. Many moons ago - persecuted refugees such as the Parsi community and Jews_____________ India their home. Countries with totalitarian and authoritarian systems have to also find ways in whichthey can _____________ migrants. Demographic shifts - with ageing societies losing their global competitiveness - _____________ this more compelling.

9. The worst market sell-off in _____________ history may be around the corner. Just don't blame China alone for it. Since 2007 - the aggregate size of central banks' balance sheets has tripled to $22 trillion; _____________ by asset repurchases to stave off a deeper crisis. After Lehman Brothers' collapse _____________ a rout - the biggest central banks around the world _____________ 'quantitative easing' - or huge wads of cheap money - to encourage investment and bolster confidence.

10. This is a revolution spurred not by policy change or government grants but by private capital. The success ofthese leagues comes from the work of venture capitalists - bankers - business persons - actors - statisticians - an international technical crew and an evolving media - whotogether have all _____________ these sports with professionalism and a glossy _____________. This is not to saythat cricket is losing its lustre. Far from it. Cricket - our national obsession - remains the _____________ sport in India. The 2015 World Cup - despite being played in an 'inconvenient' time zone - delivered the best ever ratings for any event on television. But cricket is no longer the only sport occupying the national _____________ anymore.

11. It is a _____________ great importance for an economy that inflation and inflationary expectations are _____________ under control. Else - the economy risks getting into a situation where any sign of even moderately strong economic growth leads to _____________ high inflation - thus - structurally reducing the potential rate of growth of the economy .However - the timing of the increase and decrease in rates is always a very difficult decision as it hasto ensure _____________ between both inflation and growth.

12. The macro-policy stance and climate are - however - not_____________ to growth. The US Federal Reserve has_____________ the record of greater success. It achieved this with a dual mandate and not a monetarist perspective -” of which inflation targeting is a collateral product. The dual mandate underscores the sovereignty of employment -” i.e. growth -” as an independent policy objective and_____________treat inflation as a monetary _____________.

13. Recent plunges in China's stock markets - currency value and economic growth have _____________ global fears. After a long spell of gravity defying rise - the sudden spectacle of China stumbling and panicking _____________ confidence in President Xi Jinping's 'dream of national _____________ has upset calculations of not just Chinese consumers and producers - but _____________ international stakeholders.

14. We are _____________ on foreign sources of defence and other hi-tech technology than perhaps ever before. Creating an app or an e-commerce service doesn't qualify as hi-tech_____________. Narendra Modi and his team seem to thinkthat shaking hands with Jack Ma and Mark Zuckerberg are crucial steps in _____________ a culture of innovation in India. The result is that our PM signs up for a town hall meeting at the Facebook office _____________ investigating the ins and outs of hi-tech research at US institutions.

15. Efforts have been made in the past to cleanse the sector - but without success .The Appropriate Authority was set up by the tax department for pre-emptive purchase of property in cases where the value was _____________ .But the experiment flopped. There were litigations - the tax department was _____________ with high priced properties - _____________ could not be disposed of. These were_____________ to officers for residential purposes. I recall colleagues staying in palatial accommodation in Golf Links - Malabar Hill and Cuffe Parade. The funds of the Government were unnecessarily blocked. The institution had to be scrapped.

16. Goldman Sachs claimed _____________ no law. That's precisely the problem. Our societies are _____________ by legal corruption. University professors are in cahoots with pharmaceutical companies that think nothing of_____________ hundreds of thousands of dollars for life and death products that _____________ hundreds. And economists who cannot see past markets support such nonsense.

17. What is also positively difficult to imitate is IP. And - in a complex business that is not necessarily IPdriven - the quality of execution is equally difficult to imitate.

18. This heavy taxation _____________ in beer being seen as a'high-end' drink driving drinkers to hard spirits. The current policies of each and every state government are_____________ aimed at raising revenues from the alcoholic beverage sector without differentiating between categories of low and high alcoholic beverages. These policies _____________ social needs and objectives - thereby driving drinkers to opt for liquor consumption. One must appeal to the states to stop looking _____________ at beer producers to fund their coffers.

19. Birds migrate long stretches - sometimes even thousands of miles between its breeding and non-breeding ground - a journey _____________ many hiccups - often perilous - but it doesn't have the luxury to reproduce and blossom in a fixed habitat. It has to fly to a new spot - sometimes_____________ food - some other times to escape harsh winters - the reasoning the same each time-the desire to survive. Migration as a phenomenon is nature's remarkable way of _____________ Darwin's theory-'Survival of the fittest'; the Syrian migrants _____________ the theory even more vehemently.

20. Organisations are gradually _____________ the importance of creating strong brands that provide real customer benefits so they can avoid falling prey to commoditisation. In other words - companies are realising that it's the only way_____________. To a point - marketing and brand building exercises can help _____________ one's products and services and break the monotony and commoditisation but afterthat one often needs to turn to innovation and constanttechnological upgrades _____________ mindshare.

21. Consider this target: "By 2030 ensure all learners_____________ knowledge and skills _____________ promote sustainable development - including among others through education for sustainable development and sustainable lifestyles - human rights - gender equality - promotion of a culture of peace and non-violence - global citizenship - and appreciation of cultural diversity and of culture's_____________ to sustainable development". It is hard to know what is promised - _____________ how it will be implemented - monitored or evaluated.

22. This seems counterintuitive but is a growing leadership challenge. High performance and individual happiness cannot stay _____________ - notwithstanding the hardliner view that workplaces are about business success alone. It_____________ helps the individual nor eventually the organisation. It is not just about engagement levels at a workplace - which _____________ a short-term issue. It is about a Happiness Quotient - a bedrock of long-term effectiveness and _____________ high performance. How can we create Happier Workplaces - not just successful ones? Places where there is a sense of joy and fulfilment - of trust and collaboration. And yes - tasks get delivered without a ringmaster's presence.

23. Think of the times when you felt vulnerable - miserable and_____________. What did you desire the most in that situation? A kin offering you few thousands of dollars to rebuilt your life - sans the emotions? _____________ that kind of support suffice? Or did you seek a dear one offering you a shoulder _____________ - have him wipe off your tears - have him hold your hand assuringly and tell you- All will be OK!I find solace in words of kindness - I feel reassured with a warm hug - I feel consoled with a gesture that _____________ a sense of belonging. And I need all this even if I am behindthe eight ball.

24. While the NEP definitely needs _____________ the anomalies and bring in a reasonable secure ecosystem fortransactions - it _____________ clearly in tune with the existing standards and expectations that India's online ecosystem deserves and demands. In a landmark judgment in March 2015 - the Supreme Court had _____________ Section 66A ofthe IT Act on the same premise that it encroached on online freedom. The lessons of that judgment _____________to the DEITY bureaucracy and experts in the committee to see a reasonably encompassing NEP in place.

25. Another reason that makes shoulders droop is faulty organisation design. Maybe jobs are not clearly sculpted._____________ people are stepping on too many toes. Accountabilities are _____________. There may be a formal organisation structure but a stronger informal power structure is what _____________ works. Are the rank and file getting conflicting messages from too many stakeholders? Could the structure and responsibilities be better_____________ - both in letter and spirit? Every team has issues of power - influence and politics. Could yours be getting to be a victim of it and living with unhappiness?