Directions (1 to 10) : 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 option given against each number and fill up the blanks with appropriate words to make the paragraph meaningful.

Prime Minister Narendra Modi has announced the start of three schemes - two insurance products and one pension scheme - for poor and unorganized workers. These might (1) __ ongoing schemes (2) __ by the previous UPA government, but there is no (3) __ the present administration’s (4) __ to give them scale, commitment and visibility the scheme needed. Insurance (5) __ resources to meet (6) __ expenses. Given that nearly two-third of Indians are below 35 years of age, the (7) __ of death in the entire population is small and premium amount can be kept low to (8) __ the resources needed to meet insurance payouts. When coverage is (9) __ to include the entire population the odds work in (10) __ of lowering costs.
Important for :
Answer as per the DIRECTION given above :
» Explain it
The use of the verbs 'parcel' or 'repair' is irrelevant in the context.

'Wreckage' is a noun and can't be placed here.

Out of 'repackage' and 'announce' the verb 'repackage' will go well in the given context.

Repackage (verb) : If something is repackaged in a particular way, it is presented or advertised in that way in order to make it seem more attractive or more interesting.
Answer as per the DIRECTION given above :
» Explain it
The use of past participle 'received' is not satisfying the 'Subject-Verb Agreement'.
It is an idea or story that's 'originated'
It is an invetion that's 'discovered'
It is an institution, company or organization that's 'founded'.  
Schemes are generally 'introduced'. Hence the use past participle 'introduced' makes sense here. 
Answer as per the DIRECTION given above :
» Explain it
"There is no denying" is a common phrase used in English language with a view to showing that you do not deny something or you take something to be true. 

Ex. There's no denying that this has been a difficult year for the company.
'Denying' hence is the most appropriate word in the context.
Answer as per the DIRECTION given above :
» Explain it
'Strength' would be the most inappropriate word in the context and therefore we can immediately eliminate it.

We in general use 'aptitude' in relation to learning or intelligence and hence it goes out of the context.

'Capacity' in general sense is used while referring to the ability of retention or production. Hence it would not the best pick.

Out of 'ability' and 'competency' the more suitable choice in the context would be 'ability' as 'competence' is derived from the word 'competition' while 'ability' which means possession of the skill to do something goes well with the context.
Answer as per the DIRECTION given above :
» Explain it
The words 'collect', 'apportion' and 'dispense' will immediately be eliminated as their use does not satisfy the 'Subject-Verb Agreement'. (The subject 'Insurance' is singular and it needs a singular verb in the predicate part.)
Out of 'pools' and 'issues' the word 'pools' proves to be a valid choice here as 'Insurance' is based on the principle of risk-pooling. It pools resources and does not issue them.