It is not without reason that the presidential terms of reference (ToR) of the Fifteenth Finance Commission have raised questions, and the…… For further reading, visit “The Hindu”.
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Today’s Advanced Word List 1:
- propriety (noun) – morality, correctness, decency.
- presidential (adjective) – dignified, confident.
- terms of reference (phrase) – scope, limits, range/purview.
- contentious (adjective) – controversial, debatable, disputed.
- exaggeration (noun) – overstatement, magnification, dramatization/hyperbole.
- conclave (noun) – meeting, gathering, assembly/conference.
- tax devolution (noun) – transfer, delegation, distribution (of central funds from taxes to the states).
- demographic (noun) – the statistical study/structure of populations, especially human beings.
- horizontal distribution/devolution (noun) – the allocation between the States of the respective shares of (proceeds) earnings. Vertical distribution/devolution 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.
- imperative (noun) – necessary condition, precondition, requirement.
- consent (noun) – agreement, assent, acceptance.
- flagship (noun) – most important schemes produced by a government.
- offset (verb) – balance out, equalize, neutralize.
- normatively (adverb) – as per standard or norm. normative (adjective) – relating to a standard/norm, particularly of behaviour.
- ramifications (noun) – consequence, result, repercussions.
- on the grounds (phrase) – in a situation/place where things are happening really/practically.
- desist (verb) – abstain, refrain, hold back.
- discretionary (adjective) – optional, non-compulsory/non-mandatory, voluntary.
- nudge (verb) – encourage, prompt, stimulate.
- fiscal space (noun) – the flexibility of a government in its spending choices, and, more generally, to the financial well-being of a government.
- purview (noun) – range, scope, ambit.
- customary (adjective) – usual, normal, ordinary.
- disquiet (noun) – unease, distress, agitation.
- allay (verb) – reduce, decrease, lessen.
- prerogative (noun) – rights, claim, privilege.
- equitable (adjective) – fair, right, impartial/unbiased.
- yardstick (noun) – standard, point of reference, guideline.
- turf (noun) – area of activity, territory, domain.
- federal fabric (noun) – federal system , federal structure, federal framework.