The Hindu Editorial (Fuel price optics) – Nov 08, 2021

The Centre finally decided last week to relent and act on the advice of monetary policymakers by cutting the excise duty on petrol and diesel by ₹5 and ₹10 a litre, respectively. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Fuel price optics) – Nov 08, 2021.

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The Hindu Editorial (Fuel price optics) – Nov 08, 2021:

optics (noun) – the way in which something (political action/situation) is recognized by the general public.
excise duty (noun) – the taxes levied on the manufacture of goods within the country, (as opposed to custom duty that is levied on goods coming from outside the country).
levy (noun) – imposition, charging, collection (of a tax, fee, fine).
offset (verb) – even up, counterbalance, equalize, neutralize; make amends for, compensate for.
surge (noun) – sudden increase or rise of something.
relent (verb) – change one’s mind, give way, give in; agree to something, concede/admit something
act on/upon (phrasal verb) – comply with, act in accordance with, follow, go along with.
on the eve of (phrase) – a period or day before an important event.
urging (noun) – encouragement, spur/push, pressure; advice, recommendation, suggestion.
value-added tax (VAT) (noun) – a consumption tax that is levied on a product repeatedly at every point of sale at which value has been added.
levy (verb) – impose, charge (a tax, fee, fine).
thereby (adverb) – as a result of that.
pump price (noun) – the retail selling price of petrol/diesel (to the public).
assert (verb) – state, avow, insist, announce, declare (confidently).
impart (verb) – give, provide.
fillip (noun) – stimulus, boost, incentive.
reviving (adjective) – restoring, revitalizing, renewing, strengthening.
revive (verb) – restore, revitalize, renew, strengthen.
as well as (phrase) – and also, and in addition.
easing (adjective) – lessening, reduction, moderation, decrease.
ease (verb) – lessen, reduce, moderate, decrease.
Inflationary/price/cost pressures (noun) – the demand and supply-side pressures that can cause a rise in the general price level; cost-push inflation, hot-economy, deficit finance.
inflationary (adjective) – tending to cause monetary inflation.
pressure (noun) – demand.
overlook (verb) – neglect, ignore, disregard, turn a blind eye.
suffer (verb) – undergo, experience, be subjected to, receive.
reverse (noun) – setback, upset, failure, misfortune, blow, disappointment, adversity, hardship, affliction.
legislative (adjective) – relating to a legislature (state government).
keen (adjective) – eager, enthusiastic, determined, desirous.
make out (phrasal verb) – allege, claim, assert, declare, maintain, affirm, pretend, imply.
the advantage over a political opponent that you can get from a particular situation;
belated (adjective) – late, behind time, not on time/delayed.
seek (verb) – try, aim, attempt.
call out (phrasal verb) – criticize someone for something (bad/incorrect) publicly and ask them to justify/explain it.
commensurate (adjective) – appropriate to, corresponding to, in accordance with, in proportion with; equivalent, equal, matching, comparable, proportionate.
clutch (noun) – group, collection, set, quantity.
prized (adjective) – treasured, precious, valued.
due (adjective) – expected, anticipated, scheduled for.
narrative (noun) – a representation of a particular situation; portrayal/account.
given (preposition) – considering, taking into account, bearing in mind.
heightened (adjective) – intensified, increased, deepened.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
as far as – is concerned (phrase) – with regard to a particular person or situation.
bound to (adjective) – certain, sure, very likely, guaranteed.
salutary (adjective) – practical, valuable, helpful/useful, beneficial.
freight (carriage) (noun) – goods, cargo, load, consignment; transportation, transport, carrying, delivery.
softening (noun) – decrease, reduction, lessening, moderation.
ought to (modal verb) – must, should.
cushion (noun) – protection, buffer, shield, defence.
cope with (verb) – deal with, grapple with, handle/manage.
tenuous (adjective) – slight, insubstantial, negligible, weak/shaky; doubtful, dubious, questionable, vague, unspecific, indefinite.
bump (noun) – an increase.
durability (noun) – permanence, longevity, ability to last, strength.
stimulus (noun) – impetus, boost, incentive, fillip.
hinge on (verb) – depend on, be based, be dependent.
boil (noun) – a condition of great activity.
project (verb) – forecast, predict, estimate, calculate.
crude oil (noun) – the raw natural resource that is extracted from the earth and refined into products such as gasoline, jet fuel, diesel and other petroleum products.
basket (noun) – a group of something (taxes, investments, commodities, etc.).
hemisphere (noun) – a circle drawn around the Earth divides it into two equal halves called hemispheres.
push up (phrasal verb) – increase, raise.
onus (noun) – responsibility, duty; burden, liability, obligation.
run (verb) – manage, organize, control.
take one’s cue from (phrase) – follow the advice of someone, be highly influenced by someone; follow, imitate, copy, mimic.
bring down (phrasal verb) – overthrow, depose, oust, unseat, overturn, topple.
outlet (noun) – store, retail store (petrol station/bunk).
hold back (phrasal verb) – stop, discontinue, withhold; restrict, restrain, block.