The Hindu Editorial with Vocabulary : Accounting for three good years

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The Hindu Editorial with Vocabulary

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Accounting for three good years

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By glossing over the positives in the three-year rule of the National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi, our political adversaries especially the Congress party, are trying to project a false narrative.

When the NDA took over the reins from the Congress-led United Progressive Alliance in 2014, it had to overcome all-round despondency after scam-ridden UPA rule. Now, there is an all-round, positive image for India and the NDA leadership has delivered on its promise of clean, responsive and transparent governance.

A global ‘bright spot’

The economy which was almost in a shambles (in a messy state), is now estimated to grow at 7.5% this fiscal. India is being hailed as the “bright spot” by the International Monetary Fund and other international bodies amid global gloom.

The Prime Minister believes that development would be incomplete without the poor benefiting from economic growth. With his stress on “reform, perform and transform”, people feel that he is the biggest transformer.

The 7.5% growth projections for this fiscal clearly indicate that economic resilience is due to efficient management. Fiscal prudence has been the watchword of this government. The golden indicators of the economy show that fiscal deficit is under control; the current account deficit is down to 0.7% from 4% in 2014; inflation is at a low of 4% as against a high of 11% in 2014; foreign direct investment inflows have touched $62.3 billion, and India’s foreign exchange reserves have touched a new high of $379 billion for the week ended May 19. The introduction of the landmark GST regime from July 1 is set to improve the economy further. Another important reform is the abolition of the Foreign Investment Promotion Board.

The Bankruptcy and Insolvency Code, which helps in the quick resolution of insolvency cases, is one of the government’s biggest reforms. As part of governance reforms, the share of States from the divisible pool of taxes has been increased to 42%.

The other big reform has been the enactment of Real Estate (Regulation and Development) Act, 2016.

On the foreign policy front, the Prime Minister’s pro-active engagement with world leaders has ensured widespread backing for India’s claim for UN Security Council membership.

The Prime Minister has made it clear that “Gaon, Garib, Kisan, Mazdoor, Mahila, Yuva” form the core of the NDA’s people-centric policies and schemes have been formulated for their uplift. Agriculture has been accorded highest priority and the goal is to eventually double the income of farmers.

Credit facility to agriculture has been increased to a whopping Rs. 10 lakh crore — this will go a long way in preventing farmers from falling prey tousurious money lenders.

Another major pro-farmer scheme has been the Pradhan Mantri Fasal Bima Yojana, which covers all food grains and all risks in the crop cycle. With an outlay of Rs. 50,000 crore, the Pradhan Mantri Krishi Sinchayee Yojana seeks to provide water to every field (Har Khet ko Pani) in five years. The highest ever expenditure of Rs. 51,902 crore was made in 2016-17 under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

There is also the Blue Revolution to ensure economic prosperity for fishermen and nutritional security where integrated development and management of fisheries, with an outlay of Rs. 3,000 crore, has been envisaged for five years.

The NDA government had to rework tax agreements with some countries. The series of measures to unearth black money include constituting a Special Investigation Team to announcing the successful Income Declaration Scheme (IDS). With the Benami Transactions (Prohibition) Act, the government has blocked a key route to generate and hold black money.

Finally, the game-changing invalidation of Rs. 500 and Rs. 1,000 notes has dealt a major blow to the twin menaces of black money and corruption, which became all too pervasive during the UPA regime.

The entire amount of black money has come into the banking system through demonetisation and every rupee is being verified whether it is black or white. Post-demonetisation, 91 lakh people have been added to the income tax net. There has also been unprecedented growth in digital payments.

This government has ushered in an infectious sense of honesty, accountability and transparency in the bureaucracy. The biggest example of this is the transparent auctioning of coal blocks and spectrum. Auctioning of 82 blocks over the life of the lease period would net Rs. 3.94 lakh crore. Compare this with the astronomical loss of Rs. 1,86,000 crore in the coal blocks allocations, as the Comptroller and Auditor General computed it, under the UPA dispensation.

There has also been decisiveness in resolving the four-decade old One Rank One Pension for ex-servicemen and the long-pending Land Boundary Agreement with Bangladesh.

I move back to welfare for the needy. Under Jan Dhan Yojana, a record 28.52 crore bank accounts were opened. Another 13 crore people have availed social security cover at nominal rates under Jan Suraksha. Capital of Rs. 3.17 lakh crore as collateral-free loans has been provided to 7.45 crore small entrepreneurs under the Micro Units Development & Refinance Agency Ltd (MUDRA) scheme.

Other pro-poor initiatives include Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana and Jan Suraksha Yojana benefiting 16 crore people. After the Prime Minister’s appeal, about 1.2 Lakhs people have surrendered their LPG subsidy, which is being given to the poor under Ujjwala Yojana.

As many as 224 schemes have been brought under the Direct Benefit Transfer platform and over Rs. 1.92 lakh crore transferred to 32 crore beneficiaries, resulting in a saving of Rs. 49,560 crore. Rural development, infrastructure and housing have been given a huge thrust through ‘Housing for All’; rural electrification (about 13,432 of 18,456 un-electrified villages have been electrified) and rural connectivity (1.20 lakh km of rural roads constructed in last three years) are others.

Several schemes to empower women have been successfully implemented which include Beti Bachao, Beti Padhao (BBBP), Sukanya Samriddhi Yojana (over one crore accounts opened), Maternity Benefit (Amendment) Act (increasing maternity leave to 26 weeks) and Pradhan Mantri Surakshit Matritva Abhiyan (safe pregnancy). After BBBP, there has been a remarkable improvement in the child sex ratio in Haryana — 950 girls to 1,000 boys.

Another important reform-driven outcome has been the cancellation of 23 million fake ration cards following Aadhar-linked public distribution in the States. With the mass movement of Swachh Bharat, 40 million toilets have been built and 1,94,000 villages have become open defecation free.

The NDA Government can definitely look back with satisfaction on its three-year rule.

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Magical Vocabulary from The Hindu Editorial

  1. Gloss over (Phrasal verb) छिपाना : Try to conceal or disguise (something unfavourable) by treating it briefly or representing it misleadingly.

Synonyms: Conceal, Cover Up, Hide, Camouflage.

Example:  The report praised the managers but glossed over the high cost ofthe project.

  1. Adversary (noun) विपक्षी/ विरोधी :One’s opponent in a contest, conflict, or dispute.

Synonyms: opponent, rival, enemy, antagonist, combatant, challenger.

Example: If you don’t believe in yourself, then you are your worst adversary.

  1. Despondency (Noun) निराशा/ उदासी Low Spirits From Loss Of Hope Or Courage.

Synonyms: hopelessness, despair, discouragement, low spirits, wretchedness.

Example: Because I just won a huge lottery, I am no longer despondent about my financial concerns.

  1. Insolvency (noun) दिवालियापन/:Inability to pay debts.

Synonyms: Bankruptcy, Financial Ruin, Pennilessness, Impecunious.

Example: The economy has entered a sharp downturn, and unemployment and insolvencies can be expected to increase.

  1. Usurious (adjective) सूदखोर Relating to or characterized by usury

Synonyms: exorbitant, outrageous, steep, extortionate, unconscionable.

Example: The Malaysian financier, Benedict said, demanded 29 percent interest, a usurious amount indeed.

  1. Outlay (noun) लागत An amount of money spent on something.

Synonyms: Expenditure, Expenses, Spending, Outgoings, Money Spent, Cost, Price.

Example: The Company has outlaid nearly 20 million dollars in its new project.

  1. Envisage (verb) परिकल्पना की गई Contemplate or conceive of as a possibility or a desirable future event.

Synonyms: imagine, contemplate, visualize, envision, picture, conceive of.

Example: He had never envisaged spending the whole of his working life in that particular job.

  1. Infectious (adjective) संक्रामक/ शीघ्र प्रभावीLikely to spread or influence others in a rapid manner.

Synonyms: communicable, transmittable, transferable, spreadable, contagious, epidemic.

Example: The steel band music of Trinidad and Tobago is an infectious musical rhythm with a strong beat, and notes similar to American jazz.

  1. Usher in (Phrasal verb) प्रारम्भ करना Cause or mark the start of something new.

Synonyms: Herald, Mark The Start Of, Prelude, Pave The Way Form.

Example: We ushered in the India victory with champagne and dancing.

  1. Nominal (adjective) नाममात्र/ बहुत मामूली(Of a price or charge) very small; far below the real value or cost.

Synonyms: Tiny, Minute, Minimal, Small, Infinitesimal, Insignificant, Trifling.

Example: It is expected that there will be a nominal charge.

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Courtesy And Official editorial link :- The Hindu 

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