The Hindu Opinion Article (An open letter to Finance Ministers) – May 14, 2018

My fellow Finance Ministers in the States, I hope you will agree that the award of the Finance Commission is vital to State finances. For further reading, visit “The Hindu”. Below is today’s word list-2 for The Hindu Opinion Article (An open letter to Finance Ministers) – May 14, 2018.

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Courtesy: The Hindu

Today’s Advanced Word List 2 For The Hindu Opinion Article (An open letter to Finance Ministers) – May 14, 2018:

inter se (adverb) – Latin; meaning “among/between themselves”.
enshrine (verb) – to enclose in, preserve, treasure, protect (as valuable).
modicum (noun) – little bit, small amount, particle.
horizontal distribution/devolution (noun) – the allocation between the States of the respective shares of (proceeds) earnings.
Vertical distribution/devolution (noun) – it means the distribution of the net earnings (proceeds) of taxes of the Union between the Union and the States.
fiscal federalism (noun) – it refers to the division of functions and finances in connection with public spending and taxation between the different levels of the government.
adversely (adverb) – unfavourably, disadvantageously, badly.
fervently (adverb) – very enthusiastically, eagerly/avidly, passionately.
predecessor (noun) – something which has been replaced by another.
asymmetric (adjective) – unequal, one-sided, differing/disproportionate.
federalism (noun) – a system of government in which establishments such as states or provinces share power with a national government.
Revenue deficit (noun) – Revenue deficit is “the difference between revenue expenditure and revenue receipts which indicates increase in liabilities of the Central Government without increase in the assets of that Government”. In simple language, a mismatch in the expected revenue and expenditure can result in revenue deficit.
Fiscal deficit (noun) – Fiscal deficit is “the excess of total disbursements from the Consolidated Fund, excluding repayment of debt, over the total receipts into the Fund (excluding debt receipts) during the financial year”. In simple language, the difference between total revenue and total expenditure of the government is termed as fiscal deficit.
infringement (noun) – contravention, intrusion/incursion, violation.
curtail (verb) – reduce, decrease, lessen.
fiscal responsibility (noun) – the act of creating, optimizing and maintaining a balanced budget.
outright (adverb) – completely, entirely, totally.
discretionary (adjective) – optional, non-compulsory/non-mandatory, voluntary.
plethora (noun) – excess, abundance, surplus/too many.
incentivise (verb) – encourage, motivate, galvanize.
populist (adjective) – related to politicians who claim that they are representing the common/ordinary people.
join hands (phrase) – work together.
uphold (verb) – maintain, protect, preserve (a practice).
sinister (adjective) – threatening, disturbing, bad.
tenet (noun) – principle, belief, doctrine/rule.
stand in the way of (phrase) – prevent from achieving something.

Today’s Advanced Word List 2 For The Hindu Opinion Article (An open letter to Finance Ministers) – May 14, 2018:

Note:

Click each one of the words above for their definition, more synonyms, pronunciation, example sentences, phrases, derivatives, origin and etc from http://www.oxforddictionaries.com/.
Definitions (elementary level) & Synonyms provided for the words above are my personal work and not that of Oxford University Press. Tentative definitions/meanings are provided for study purpose only and they may vary in different context. Use it with the corresponding article published on the source (website) via the link provided.
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