The Hindu Editorial with Vocabulary

Daily Vocabulary Builder – The Hindu  Editorial with Vocabulary

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New India formula? — on the 15th Finance Commission

The Centre has moved swiftly to notify the presidential order setting up the Fifteenth Finance Commission, within five days of the Cabinet’s approval. The constitutional body is tasked with recommending a fiscal road map and a sharing of resources between the Centre and the States. On Monday, former Revenue Secretary N.K. Singh, who has been appointed chairman of the Commission, held preliminary discussions on its “wide-ranging” terms of reference and decided to hold expeditious consultations with stakeholders at all administrative levels as well as with political parties. Think tanks and academics will be consulted. The Commission has less than two years to complete its deliberations and submit its report by October 2019, giving the government a little over a quarter to consider and implement its recommendations for the period from April 2020 to March 2025. Accepting the 14th Finance Commission’s recommendation to raise the States’ share in the divisible pool of taxes to 42% from the previous 32% level, Prime Minister Narendra Modi had told Chief Ministers that although this meant less money at the Centre’s disposal, his government had decided to strengthen the States’ capacity to move away from a ‘one-size-fits-all’ approach. While Mr. Modi’s disdain for Central planning is well-known, the terms of reference for this Commission seem to suggest that the record hike in the tax transfer rate to States is pinching.

The Centre has urged the Commission to finalise its tax-devolution formula after factoring in the impact on the Union’s fiscal situation, keeping in mind “the continuing imperative of the national development programme including New India – 2022”. Taken together with its need for resources for essential spending in areas such as defence, security, infrastructure and climate change, the Centre seems to be seeking a rollback of the 42% share for States. The government’s top brass has repeatedly asserted the need for revenue to maintain public spending in the face of flak for high petroleum taxes. But a reduction from the 42% rate could dent States’ faith in the Centre’s claims of cooperative federalism. The rollout of the goods and services tax, which marks a new chapter in tax administration with both the Centre and States working together through the GST Council, makes the challenge trickier. The Centre is committed to compensating States for any revenue losses arising out of GST implementation till June 2022, thus covering nearly half the period for which the Commission is to recommend a formula. Its mandate includes formulating performance-linked incentives for States on a range of desirable outcomes such as attaining a replacement rate in population growth, deepening the GST net and improving the ease of doing business. Devising a fiscal nudge for development goals sounds attractive, though the challenge would lie in quantifying the good from the ugly — especially when one has to reward a State for showing ‘control or lack of it in incurring expenditure on populist measures’.

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The Hindu Editorial with Vocabulary

1. Deliberations (noun) विचार-विमर्श / विवेचना: long and careful consideration or discussion.

Synonyms: Thought, consideration, reflection, contemplation, meditation, rumination, cogitation.

Antonyms: Abandons, distractions ,spontaneities, carelessnesses

Example: The government usually accepts the advice of the committee without deliberation.

2. Disposal (noun) निपटान / नियंत्रण / व्यवस्था: The action or process of throwing away or getting rid of something.

Synonyms: Arrangement, arranging, positioning, placement, lining up, disposition, grouping.

Example: Congress did pass legislation regarding control of radioactive waste disposal .

3. Disdain (noun) तिरस्कार / अवहेलना / उपेक्षा करनाThe feeling that someone or something is unworthy of one’s consideration or respect; contempt.

Synonyms: Contempt, scorn, scornfulness, contemptuousness, derision, disrespect, disparagement.

Antonyms: Respect , praise , admiration

Example: It is not surprising that they showed such disdain.

4. Pinching (verb) चुटकी लेना / प्रेरणा करना / बलपूर्वक धन लेनाTo confine, squeeze, or painfully press (toes, fingers, etc) because of lack of space

Synonyms: Hurt, pain, squeeze, crush, cramp, be uncomfortable.

Antonyms: Release, comfort.

Example: Make the dressing by combining the ingredients with a pinch of sugar.

5. Flak (noun) आलोचना A great deal of adverse criticism.

Synonyms: Criticism, Censure, Opprobrium, Denigration

Antonyms: Commendation, Compliment, Praise

Example: You are going to get flak for losing four Tests in a row..

6. Devolution (noun) हस्तांतरण / सौंपना:The transfer or delegation of power to a lower level, especially by central government to local or regional administration.

Synonyms: Decentralization, delegation, redistribution, transfer, surrender, relinquishment.

Antonyms: Rehabilitation ,decency, evolution

Example: All three parties this year have been talking about the growing importance of local government and devolution.

7. Imperative (adjective) अनिवार्य / आत्यावश्यकExtremely urgent or important; essential.

Synonyms: Vitally important, of vital importance, all-important, vital, crucial, critical, essential, necessary.

Example: Having a website is imperative for any business that wants to grow.

8. Asserted (Verb) इस बात पर जोर / द्दढ़तापूर्वक करना State a fact or belief confidently and forcefully.

Synonyms: Declare, maintain, contend, argue, state, claim, propound, proclaim, announce, pronounce,

Example: Much better to assert yourself by claiming a proper position in the road.

9. Nudge (verb) हल्के ढंग से धक्का / कुहनी से हलका धक्काTo give (someone) a gentle reminder or encouragement or to push or poke gently, esp. with the elbow, in order to get the attention of, hint slyly, etc.

Synonyms: Reminder, prompt, prompting, prod, encouragement

Antonyms: Pull , discourage , dissuade ,repress.

Example: He said he saw the incident and there was almost definitely a slight nudge.

10. Quantifying (verb) मात्र निर्धारण :To determine or express the quantity of; indicate the extent of; measure

Synonyms: Calculate, compute, count, meter, quantify, weigh, size, evaluate, assess, gauge, plumb.

Example: Now you can actually begin to quantify them in terms of added value.

11. Incurring (verb) उठाना / अपने ऊपर लेना / दायित्व देनाBecome subject to (something unwelcome or unpleasant) as a result of one’s own behavior or actions.

Synonyms: Bring upon oneself, expose oneself to, lay oneself open to, run up, attract, invite, earn, arouse.

Antonyms: Avoid , bypass , circumvent.

Example: Your wife would have to incur the expenses in order to be reimbursed for them.

12. Populist (noun) लोकलुभावन निर्धारण :A person, esp a politician, who appeals to the interests or prejudices of ordinary people.

Example: He has previously criticised populist politicians playing to Right wing voters.

Source: ( The Hindu Newspaper)

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