The Hindu Editorial (A raft of concessions amid consolidation) – Feb 02, 2023

If budget making is a complex task, interpreting the Union Budget can be hazardous given the amount of fine print that one has to pore over. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (A raft of concessions amid consolidation) – Feb 02, 2023.

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The Hindu Editorial (A raft of concessions amid consolidation) – Feb 02, 2023:

raft (noun) – a large quantity of something.
concession (noun) – allowance, rebate, reduction, cut.
amid (preposition) – in the middle of, surrounded by; during.
consolidation (noun) – strengthening, reinforcement, fortification.
promote (verb) – further, advance, facilitate, encourage, foster.
inclusive (adjective) – with everyone included, comprehensive, all-inclusive.
fiscal consolidation (noun) – it is a reduction in the underlying (basic) fiscal deficit and public debt.
affluent (adjective) – wealthy, well off, rich.
the affluent (noun) – the wealthy or rich people.
interpret (verb) – explain, clarify, make clear, understand.
hazardous (adjective) – dangerous, risky, unsafe, perilous.
given (preposition) – considering, taking into account, bearing in mind.
fine print (noun) – small print; it refers to some important details or conditions of an agreement/contract, but written/printed in small letters (e.g. mutual funds’ terms & conditions).
pore over (phrasal verb) – study, read, examine, scrutinize.
full-fledged (adjective) – fully established/developed.
tick all the boxes (phrase) – to fulfill all the requirements
on the face of it (phrase) – apparently, seemingly, outwardly, ostensibly, at first glance, it seems (that), it appears (that), at face value, to go by appearances, by all accounts.
prosperity (noun) – success, fortune, welfare, well being.
infrastructure (noun) – the basic physical or organisational structure or framework that a country or organization needs in order to function properly. For a whole nation, it includes all the physical systems such as buildings, roads & railways networks, utilities, etc.
(Keynesian) multiplier effect (noun) – the proportional amount of increase in final income (particularly of the government) that results from an injection of spending; it occurs when an initial injection (investment/spending) into the economy causes a bigger final increase in national income. This theory was first proposed by the British economist John Maynard Keynes (1883–1946), who is regarded as the founder of modern macroeconomics.
green (adjective) – environmentally friendly, energy-efficient, energy-saving.
sustainable (adjective) – defensible, justifiable, defendable, supportable, acceptable.
rationalisation (noun) – systematisation, formalisation, rationale, justification.
stay the course (phrase) – accomplish the work completely.
Amrit Kaal (phrase) – It indicates a sort of golden era (available to all for achieving highest human potential). A Vedic astrology term which signifies the perfect time to start a new venture.
sound (verb) – pronounce, voice, articulate.
bugle (noun) – (figuratively) signal; (bugle is generally a musical, brass instrument like a simple trumpet used for military signals).
emphasise (verb) – underscore, highlight, stress, call/draw attention to, put stress on.
ruling (adjective) – current, present, existing.
dispensation (noun) – government, regime, system, establishment.
per capita (adverb & adjective) – per person, for each; relating to each person.
cite (verb) – refer to, make reference to, mention, point to.
formalisation (noun) – the extent/degree/level to which rules and procedures are followed in an organization.
adoption (noun) – acceptance, endorsement.
sphere (noun) – field of activity, area of activity, domain, territory.
eye (noun) – vision, sight.
actualise (verb) – fulfil, achieve, accomplish.
among other things (phrase) – used to indicate that there are several more things like the one mentioned, but that you do not intend to mention them all.
impetus (noun) – energy, strength, momentum.
lay out (phrasal verb) – outline, draw up, formulate.
trademark (noun as modifier) – a distinctive characteristic, trait, quality, attribute.
acronym (noun) – an abbreviation formed from the initial letters of other words and pronounced as a word.
relatively (adverb) – comparatively, to a certain extent, somewhat.
light (adjective) – relatively low in intensity.
Pradhan Mantri Vishwakarma Kaushal Samman (PM VIKAS) (noun) – The Scheme that will offer traditional artisans and craftspeople, or Vishwakarmas, a package of assistance aimed at helping them improve the quality, scale and reach of their products.
for instance (phrase) – as an example.
specifics (noun) – (precise) details, niceties, subtleties, (finer) points, particulars.
outlay (noun) – expenditure, expenses, spending, outgoings, money spent.
mechanics (noun) – the way or method of doing/implementing something.
spell out (phrasal verb) – explain, make clear, elucidate/clarify.
Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI) (noun) – this initiative is aimed at undertaking mangrove plantation along the coastline and on salt pan lands leaves the funding to a “convergence between MGNREGS and a compensatory afforestation fund”.
Mahatma Gandhi National Rural Employment Guarantee Act/Scheme (MGNREGA), 2005 (noun) – an Indian labour law and social security measure that aims to guarantee the ‘right to work’. It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.
Mahatma Gandhi National Rural Employment Guarantee Act/Scheme (MGNREGA), 2005 (noun) – an Indian labour law and social security measure that aims to guarantee the ‘right to work’. It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.
convergence (noun) – coming together, union, confluence.
compensatory (adjective) – reducing/offsetting unpleasant effect of something; compensating, offsetting, redemptive.
afforestation (noun) – the effort to plant trees in barren (unproductive) lands so as to create a forest.
mainstay (noun) – cornerstone, foundation, chief support, buttress, pillar.
starve (verb) – deprive, lack, deny, die from.
fathom (verb) – understand, comprehend, discern, assimilate, absorb.
ecologically (adverb) – environmentally.
mangrove (noun) – a tropical plant (shrub or tree) that grows in coastal saline water with its twisted roots grow partly above ground.
vigour (noun) – strength, potency, efficacy, powerfulness, spirit.
ravage (noun) – devastation, ruin, destruction, damage.
pandemic (noun) – the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.
fallout (noun) – adverse results/consequence; after-effects, repercussions.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
hinterland (noun) – remote areas of a country away from the coastal areas/the banks of major rivers.
household (noun) – family, house.
peg at (verb) – fix, set, hold, limit (a price, rate, or amount) at a particular level.
percentage point (noun) – the difference between two percentages is termed as percentage point. (for example: “Interest Rates Jump From 10% to 12%”. In this case, the interest rate increased by “2 percentage points” or you can say that the interest rate is increased by 20%).
subsidy (noun) – also called subvention; a financial contribution granted to help an industry or business, mostly given by a government, in order to keep the price of service/goods at a low level.
pare (verb) – reduce, decrease, cut, lessen.
steep (adjective) – sudden, sharp, rapid.
to be sure (phrase) – certainly.
resolve (noun) – determination, willpower, firmness, resolution, courage.
receipts (noun) – proceeds, profits, earnings, returns, income, revenue, gain, yield, turn over.
dip (verb) – decrease, fall/drop, slump.
unprecedented (adjective) – not done or experienced before.
contraction (noun) – In economics, it refers to a decline in national output as measured by gross domestic product.
leeway (noun) – freedom, scope/flexibility, latitude/elbow room.
front (noun) – a particular situation or a particular sphere of operation.
capital spending/capital expenditure (CAPEX) (noun) – the money spent on the acquisition of assets like land, buildings, machinery, equipment, as well as investment in shares.
fiscal (adjective) – financial.
set aside (phrasal verb) – keep, reserve, earmark, withhold, save, reserve, put aside.
grant-in-aid (noun) – a sum of money coming from a central government to a state government for a specific project.
force multiplier (noun) – something which enhances effort to produce more results.
laudable (adjective) – praiseworthy, commendable, admirable, excellent.
lever (noun) – handle; a way of pressurizing someone into doing something.
spur (verb) – prompt, impel, drive, propel.
uncertain (adjective) – unpredictable, volatile, precarious, unsure, doubtful.
on account of (phrase) – because of.
slowdown (noun) – economic decline, recession, slump/depression.
Economic Survey (noun) – Economic Survey, presented in the Parliament ahead of the Union Budget, is the Ministry of Finance’s flagship document. The Economic Survey detailed information about the Indian economy over the past year. The Economic Survey also offers glimpses into the current state of the economy, and occasional insights into the economic outlook. Although the Constitution does not bind (impose a legal obligation on) the government to present the Economic Survey, over the years, it has become common practice for every government to present the Economic Survey before the Union Budget.
pertinently (adverb) – relevantly, suitably, appropriately, germanely.
point out (phrasal verb) – identify, mention, indicate, draw attention to.
bulwark (noun) – support; protection, guard.
woo (verb) – pursue, see the support of, try to attract.
tweak (noun) – adjustment, modification, alteration, change.
foregone (adjective) – past, earlier, previous.
find its way back (adjective) – regain, return, rejoin, reattain, get back.
vital (adjective) – key, crucial, essential.
consumption (noun) – the use of goods and services by households.
beneficiary (noun) – recipient, receiver.
reinforce (verb) – strengthen, fortify, support, buttress.
perception (noun) – understanding, thought, belief, or opinion.
bat for (phrasal verb) – take the side of, support, defend.