The Hindu Editorial (Growth with inequality) – Feb 01, 2021

The Economic Survey for 2020-21 is an expansive attempt at reviewing the developments in the Indian economy during the current financial year… For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Growth with inequality) – Feb 01, 2021.

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The Hindu Editorial (Growth with inequality) – Feb 01, 2021:

inequality (noun) – Inequality is simply defined as “the state of not being equal, especially in status, rights and opportunities; imbalance, unevenness, disproportion, disparity.
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.
privilege (verb) – give a privilege (right/advantage).
disparity (noun) – imbalance, inequality, variation.
expansive (adjective) – extensive, sweeping, all-embracing, comprehensive, thorough, all-inclusive, wide ranging.
outlook (noun) – prospect, expectation, expectancy, hope, future.
near-term (adjective) – short-term.
prospects (noun) – possibilities, chances, opportunities (for success).
opt (verb) – choose, select, decide on.
self-congratulatory (adjective) – self-satisfied, self-admired, excessively proud, overly complacent.
tone (noun) – expression, mode of expression; mood, attitude.
highlight (verb) – underline, underscore, emphasize, call attention to.
steer (verb) – guide, conduct, direct/lead.
treacherous (adjective) – disloyal, unfaithful, deceitful, double-dealing; dangerous, hazardous, unsafe, risky.
shoals (noun) – a hidden danger/difficulty.
unfathomable (adjective) – difficult to understand; incomprehensible, cryptic, mysterious, perplexing/bewildering.
graded (adjective) – relating to an activity performed in stages/levels (i.e. moving from one level/stage to another gradually).
public health (noun) – the branch of medicine handling public health; public health is also the science of protecting and improving the health of people and their communities through education, policy making and research for disease and injury prevention.
measure (noun) – action, step, procedure.
trade-off (noun) – a situation in which you must choose between (balance) two things that are opposite or cannot be had at the same time; a compromise; swap, exchange.
livelihood (noun) – means of making a living with the basic necessities (food, water, shelter and clothing); means of support, subsistence, source of income.
win-win (adjective) – relating to a situation in which each party will gain something.
assert (verb) – declare, announce, pronounce, state.
strategic (adjective) – relating to achieving long-term or overall goals.
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.
deleterious (adjective) – harmful, damaging, adverse.
there is no denying (phrase) – it is undoubtedly true.
flattening the curve (phrase) – In epidemiology, the idea of slowing a virus’ spread so that fewer people need to seek treatment at any given time is known as “flattening the curve”.
so far (phrase) – until now, up to the present, up to this point.
bruising (adjective) – stressful, demanding/taxing, painful.
debatable (adjective) – controversial, contentious, questionable/arguable.
attribute (verb) – ascribe, assign, connect/associate with.
proactive (adjective) – aggressive, intense.
contention (noun) – assertion, affirmation, pronouncement, announcement, statement; opinion, position, view.
potential (noun) – possibilities, potentiality, prospects.
seminal (adjective) – influential, major, important.
sound (verb) – appear, look like, seem.
off-key (adjective) – incongruous, inappropriate, unsuitable, discordant.
given (preposition) – considering, taking into account, bearing in mind.
ongoing (adjective) – continuing, happening/occurring, unending, unceasing, relentless.
agitation (noun) – (public) protest.
Farm Acts, 2000 (noun) – Farm Acts, 2000 refer to three agricultural bills passed by Indian Parliament in September 2020. The three acts are “The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020 (FPTC Act) allows farmers to sell their harvest outside the notified Agricultural Produce Market Committee (APMC) mandis without paying any State taxes or fees”, “the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 facilitates contract farming and direct marketing”, and “the Essential Commodities (Amendment) Act, 2020 deregulates the production, storage, movement and sale of several major foodstuffs, including cereals, pulses, edible oils and onion, except in the case of extraordinary circumstances”.
as well as (phrase) – and also, and in addition.
plight (noun) – difficult situation, trouble/difficulty, quandary.
informal/unorganized sector (noun) – informal economy, grey economy; it is the part of an economy that is neither taxed, nor monitored by any form of government.
formal sector/organised sector (noun) – formal economy; it is the part of an economy that is taxed, or monitored by any form of government.
go on to (phrasal verb) – continue, proceed (to do something).
forecast (verb) – predict, foresee, estimate, foretell, project.
‘V’ shaped economic recovery (noun) – the situation in which the economy quickly recoups lost ground and gets back to the normal growth trend-line. A sharp fall in economic activity followed by a dramatic rise.
Gross domestic product (GDP) (noun) – a measure of economic activity in a country. It is the total value of a country’s annual output of goods and service.
conservative (adjective) – low, cautious, unexaggerated, moderate, reasonable.
retail or consumer price index (CPI) inflation (noun) – it is a measure of the total inflation within an economy, including commodities such as food and energy prices. The CPI monitors retail prices at a certain level for a particular commodity. The change in the price index over a period of time is referred to as CPI-based inflation, or retail inflation.
core inflation (noun) – it is a measure of the total inflation within an economy, excluding commodities such as food and energy prices (which change frequently).
moderate (verb) – lessen, decrease, diminish.
substantially (adverb) – considerably, significantly, largely.
nominal (adjective) – minimal.
bat (verb) – defend the interests of; support.
fiscal (adjective) – financial.
fiscal stimulus (noun) – an attempt by a government by measures normally involving increased public spending and lower taxation, aimed at giving a positive jolt to economic activity.
revive (verb) – restore, renew, bring back, energize, strengthen.
posit (verb) – put forward, set forth, present, propose.
upside (noun as modifier) – positive, beneficial, advantageous (situation).
prognosis (noun) – forecast, prediction, projection; opinion, judgement.
predicate on/upon (phrasal verb) – base, be dependent, found, establish, premise.
roll-out (noun) – official launch/introduction.
vaccine (noun) – a biological preparation that improves immunity to a particular disease.
in demand (phrase) – sought-after, desired, required.
battered (adjective) – damaged, impaired, spoiled.
on-ground (adjective) – practical, real, actual.
overlook (verb) – neglect, ignore, disregard, turn a blind eye.
in the wake of (phrase) – as a result of some event, especially an unpleasant one; in the aftermath of, as a consequence of, on account of, because of, owing to.
hastily (adverb) – swiftly, rapidly, quickly.
lockdown (noun) – an emergency protocol implemented by the authorities that prevents people from leaving from a place; An extended state of confinement/encirclement/isolation of a person by the authority.
take credit for (phrase) – to get praise/appreciation for something, even if it is not deserved.
Mahatma Gandhi National Rural Employment Guarantee Act (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.
contend (verb) – assert, argue, affirm, state, declare, pronounce.
prioritise (verb) – make a point of, highlight, call attention to (something as very important).
exacerbate (verb) – intensify, increase, heighten, aggravate, worsen, compound.