The Hindu Editorial (Tax transitions) – Mar 06, 2023

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The Hindu Editorial (Tax transitions) – Mar 06, 2023

transition (noun) – change, transformation.
signal (verb) – indicate, show, demonstrate, communicate, announce, declare.
compliance (noun) – adherence, observance, conformity.
cool (verb) – reduce, decrease, lessen, diminish.
gross (adjective) – total, whole, entire, full, complete.
aspect (noun) – factor, point.
mark (verb) – indicate, signify, represent.
successive (adjective) – consecutive, in a row, straight, continuous, .
stay (verb) – remain in the same level/place.
kitty (noun) – a sum of something (money/things) made up of small contributions.
regime (noun) – system.
stand at (verb) – be at a particular level.
interestingly (adverb) – in an interesting way; fascinatingly
so far (phrase) – until now, up to the present, up to this point.
bump up (phrasal verb) – increase, raise, go up; ratchet (up), maximize.
upgrade (verb) – improve, better, enhance, raise, boost.
spike (noun) – a sharp rise/increase of something.
attribute (verb) – ascribe, connect with, associate with; hold responsible for.
quarter (noun) – a period of three months (considered as one-fourth of a year).
subsequent (adjective) – consecutive, following, successive, ensuing.
give/lend credence to (phrase) – to make something (an opinion/idea) seem more correct/true.
assertion (noun) – claim, affirmation, opinion, declaration, statement, contention.
pleasant (adjective) – nice, satisfying, pleasing.
cultural (adjective) – civilizing, enlightening, enriching.
augury (noun) – sign, indicator, indication, signal, augury, harbinger, presage; precursor.
base (noun) – basis, principle, rationale.
meanwhile (adverb) – for now, for the present, meantime.
perceptible (adjective) – noticeable, perceivable, visible.
underway (adjective) – happening, ongoing, afoot, going on, in operation, in progress.
composition (noun) – structure, framework, configuration, arrangement, format.
fiscal (year) (noun) – financial year.
domestic (adjective) – local.
yield (verb) – provide, give, bring in.
uptick (noun) – a small increase or upward trend.
breakdown (noun) – data analysis; classification or categorization of information/data.
outgrow (verb) – increase faster than; grow larger than.
in tune with (phrase) – in accordance with, in agreement with, in line with.
dip (noun) – decrease, fall/drop, slump.
likely (adjective) – possible, potential, probable.
cooling (noun) – reduction, decrease, lessening, diminishing.
discretionary (adjective) – optional, voluntary, up to the individual, non-mandatory, non-compulsory.
drive up (phrasal verb) – (of a price of something) increase, rise to a higher level.
elevated (adjective) – increased, raised.
uneven (adjective) – inconsistent, varying, changeable, fluctuating, irregular, patchy.
cause for concern (phrase) – a reason to worry (feel anxious).
buoyancy (noun) – high level of activity, growth, development, progress, improvement, vigour/strength.
buoyant (adjective) – optimistic, confident, hopeful; lively, high-spirited.
tax buoyancy (noun) – it explains the relationship between the changes in government’s tax revenue growth and the changes in GDP. It refers to the responsiveness of tax revenue growth to changes in GDP. When a tax is buoyant, its revenue increases without increasing the tax rate.
tax buoyancy (noun) – It refers to changes in actual tax revenues due to the changes in income as well as due to the changes in discretionary measures such as tax rates and tax bases”. On the other hand, Tax elasticity may be defined as the ratio of a percentage change in adjusted tax revenue to a percentage change in income i.e. nominal GDP.
drop (verb) – decrease, lessen, make less, reduce.
pragmatic (adjective) – practical, realistic, sensible, rational, reasonable.
outlook (noun) – expectations, prospects, hopes, future, lookout.
amid (preposition) – in the middle of, surrounded by; during.
tighten (verb) – make stricter, make more rigorous, make more stringent, stiffen, toughen.
tighten one’s belt (phrase) – economize, cut back, budget.
slowdown (noun) – economic decline, recession, slump/depression.
play up (phrasal verb) – emphasize, lay emphasis on, accentuate, bring attention to, underline, underscore, highlight.
disingenuous (adjective) – false, untruthful, tricky, dishonest, deceitful, double-dealing.
pertain (verb) – concern, relate to, be connected with, be relevant to.
undertake (verb) – begin, start, embark on, commence.
inflow (noun) – a flow of a large amount of something (e.g. money) to a particular place.