The Hindu Editorial with Vocabulary : The other debt issue


Welcome to, as we all know that now a day’s in All Banking Exams and other competitive exams most of the English Sections were taken from Editorial pages. So it is essential to have a sound knowledge and understanding of English vocabulary. So here we are presenting you THE Hindu Editorial with Vocabulary from THE HINDU newspapers. This will help you to sail and score good marks in English Language section.

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Aspirants those who want to improve in English can read  this The Hindu Editorial with Vocabulary we will be updating daily by title The Hindu Editorial with Vocabulary and make use of it.

The Hindu Editorial with Vocabulary

The other debt issue: on the States’ finances

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For the first time in 11 years, in 2015-16 the combined fiscal deficit of India’s 29 States as a proportion of the size of their economies breached the 3% threshold recommended as a fiscally prudent limit by successive Finance Commissions. The Reserve Bank of India has warned that the States’ expectation to revert to the 3% mark in their 2016-17 Budgets may not be realised, based on information from 25 States. While the Central government has projected a fiscal deficit of 3.2% of GDP for this year, States expect to bring theirs down further to 2.6% — still higher than the average of 2.5% clocked between 2011-12 and 2015-16. Whichever way one looks at it, the steady gains made in States’ finances over the past decade seem to be unravelling. Chief Economic Adviser Arvind Subramanian has asserted that the 3% of GDP benchmark for the fiscal deficit of the States or the Centre is not a magic number. Yet, it serves as an anchor for fiscal discipline in a country whose two biggest crises in recent decades — the balance of payments trouble in 1991, the currency tumble in 2013 — were precipitated by fiscal irresponsibility.

Taking on the massive debt of their chronically (लंबे समय से) loss-making power distribution companies, as part of the UDAY restructuring exercise steered by the Centre, has surely dented the States’ fiscal health significantly over the past couple of years. With private investment remaining elusive, the States’ focus on bolstering capital expenditure in sectors such as transport, irrigation and power is welcome (States’ capital expenditure as a proportion of their GDP has been higher than the Centre’s since 2011-12). But it is important that such funding remains sustainable and States stay solvent (having assets in excess of liabilities; able to pay one’s debts.) Tepid economic growth hasn’t helped, and States have had to resort to higher market borrowings even after the Centre hiked their share from tax inflows to 42% from 32%, starting 2015-16. The Centre has been short-changing States by relying on special levies such as surcharges, cesses and duties that are not considered part of the divisible tax pool. So, instead of a 10% rise in the States’ share of gross tax revenue, the actual hike in 2015-16 was just 7.7%. The forthcoming Goods and Services Tax regime should, it is to be hoped, correct this anomaly to an extent. But there are other potential stress points: Pay Commission hikes, rising interest payments, the unstated risks from guaranteeing proxy off-budget borrowings by State enterprises, and the boisterous clamour for ad hoc loan waivers. The N.K. Singh panel on fiscal consolidation (एकत्रीकरण) has recommended a focus on overall government debt along with fiscal deficit and a 20% debt-to-GDP ratio for States by 2022-23. Not just the Centre, but States (with outstanding liabilities to GDP of around 24% as of March 2017) also need to tighten their belts considerably from here, even as they await the constitution of the Fifteenth Finance Commission.

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Magical Vocabulary from The Hindu Editorial

  1. Breach (Noun) उल्लंघनan act of breaking or failing to observe a law, agreement, or code of conduct.

Synonyms: violation, infringement, breach, contravention, outrage, infraction

Example: If you breach the Code of Conduct, you could be up for disciplinary measures, you could even be up at the end of the day to be sacked

  1. Prudent (Adjective) विवेकी/ चतुर:acting with or showing care and thought for the future.

Synonyms: cautious, careful, provident, farsighted, judicious, shrewd, circumspect,

Example: The action demanded by the ministerial task force is both sensible and prudent.

  1. Asserted (Verb) इस बात पर जोर:state a fact or belief confidently and forcefully. Synonyms: declare, maintain, contend, argue, state, claim, propound, proclaim, announce.

Example: The company asserts that the cuts will not affect development.

  1. Tumble (Noun) गिरना:fall suddenly, clumsily, or headlong.

Synonyms: drop, fall, plunge, dive, nosedive, slump, decline, collapse, crash.

Example: n an economic slowdown, corporate profits fall and stock prices tumble , too.

  1. Elusive (Adjective) टालमटोल वाला/ भटकाने वाला:difficult to find, catch, or achieve. Synonyms: difficult to find, evasive, slippery, always on the move

Example: He would then retreat, hoping to catch the elusive man in their new round.

  1. Bolstering (Verb) सशक्त:support or strengthen; prop up.

Synonyms:  strengthen, reinforce, boost, fortify, renew, support, sustain.

Example: The fall in interest rates is starting to bolster confidence.

  1. Anomaly (Noun) विसंगति:something that deviates from what is standard, normal, or expected.

Synonyms: oddity, peculiarity, abnormality, irregularity, inconsistency, incongruity, aberration.

Example: I would like to address an anomaly that I have picked up in the agriculture supplementary estimates.

  1. Boisterous (Adjective) प्रचण्डnoisy, energetic, and cheerful; rowdy.

Synonyms: lively, animated, exuberant, spirited, rambunctious, rowdy, unruly, wild, uproarious.

Example: We weren’t drunk, but decided to be loud and boisterous , living behind our facades.

  1. Clamour (Noun) कोलाहलa loud and confused noise, especially that of people shouting vehemently.

Synonyms:  racket, rumpus, loud noise, uproar, tumult, shouting, yelling, screaming, roaring.

Example: In recent months, however, as worker unrest has swelled and fewer job recruits have arrived, the clamour for jobs at the factory gates has declined.

Courtesy And Official editorial link :- The Hindu 

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