The Centre’s decision to bring back the long-term capital gains tax (LTCG) on equities, which was scrapped in 2004-05, seems to be a hasty move to plug the widening fiscal deficit ahead of an election year. For further reading, visit “The Hindu”.
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Courtesy: The Hindu
Word List-1 (To Improve English Vocabulary)
- equity (noun) – value, net worth; owned capital. shares/stocks (with no fixed interest).
- long term capital gains tax (LTCG) (noun) – the tax paid on profit generated by an asset such as real estate, shares or share-oriented products held for a particular time-frame.
- indexation (noun) – linking regular income or payments, such as salaries and taxes, to the consumer or retail price index so that the amounts are adjusted for changes in the inflation rate.
- scrap (verb) – abandon, cancel, abolish (a plan/policy).
- hasty (noun) – hurried; rash/reckless, unthinking.
- plug (noun) – stop, block, end.
- fiscal deficit (noun) – the difference between total expenditure and total income of the government.
- sell-off (noun) – selling of something (commodity/share) which causes fall in price.
- indices – plural of index (noun) – measure; guide, indication.
- erosion (noun) – destruction, deterioration, spoiling/weakening.
- level the playing field (phrase) – a concept about fairness and equal chance for everyone to succeed in a situation.
- distortionary (adjective) – misrepresenting, twisting, misreporting/misleading.
- differential (noun) – difference, gap, variation.
- in lieu of (noun) – instead, as an alternative, as a substitute.
- intra-day (adjective) – happening within a day.
- double whammy (noun) – (two fold) problem, difficulty, issue/setback.
- privilege (verb) – favour, champion, advocate; to give a higher value.
- peer (noun) – someone/something as equal, match, rival to the one.
- roll-back (noun) – reduction, cut/decrease, trimming.
- accrue (verb) – arise, accumulate, grow/increase.
- set-off (noun) – a condition of adjusting/compensating an amount against another accounts.
- tough love (noun) – a kind of policy which is formulated to reduce benefits for people.
- well off (noun) – rich, wealthy, affluent person.
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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