Site icon Editorial Words

Midnight makeover – The Hindu (Jul 01, 2017)

Midnight makeover – The Hindu (Jul 01, 2017)

In a landmark reform, India today switches to a new indirect tax system, the Goods and Services TaxFor further reading, visit “The Hindu”.

This preview is provided here with permission.

Courtesy: The Hindu

Word List-1

  1. makeover (noun) – improvement, transformation/refinement, betterment.
  2. subsume (verb) – include/absorb, encompass, incorporate.
  3. levy (verb) – impose, collect, charge (a tax/fee/fine).
  4. mop up (phrasal verb) – absorb, receive, collect/gather.
  5. exchequer (noun) – funds, resources/finances, treasury.
  6. in the making (phrase) –  burgeoning, coming, developing.
  7. political will (noun) – political intention/desire (to complete a scheme/project even if it is not admired/welcomed in the beginning).
  8. pull off (phrasal verb) – achieve, succeed in, accomplish.
  9. regime (noun) – system, arrangement, scheme.
  10. lobbying (noun) – the act of attempting to influence (the government / its official group/elected legislators) to create  the actions, policies, or decisions to help a particular organization.
  11. rent-seeking (noun) – a behaviour which does not create economic gains for society, instead it helps a company/organisation/individual using their resources to get economic gain.
  12. optimal (adjective) – finest, greatest, most favourable.
  13. bureaucracy (noun) – a system of government, the systems, authorities, officials.
  14. anxious (adjective) – worried, concerned, apprehensive.
  15. defer (verb) – postpone, delay, put off.
  16. on hold (phrase) – postpone, defer, delay.
  17. intermediary (noun) – mediator, negotiator, intervenor/arbitrator.
  18. mandate (verb) – authorize, depute, appoint/nominate.
  19. think on one’s feet (phrase) – react to events rapidly, effectively, and intelligently to new developments or changing circumstances without prior thought.
  20. tax incidence  (noun) – tax burden falls on the public.
  21. stringent (adjective) – strict, precise, firm/rigid.
  22. anti-profiteering (adjective) – relating to a clause which acts against a person who makes excessive profit illegally.
  23. interpret (verb) – explain, elucidate/explicate, clarify.
  24. transitory (adjective) – temporary, short-lived, short-term.
  25. informal economy (noun) – informal sector, grey economy is the part of an economy that is neither taxed, nor monitored by any form of government.
  26. tax buoyancy (noun) –  an indicator to measure efficiency and responsiveness of revenue mobilization in response to growth in the GDP or National income.
  27. spurt (noun) – a sudden burst, increase of activity.
  28. strive (verb) – make an effort, try hard, aim/attempt.
  29. rationalise (verb) – streamline, make more efficient, hone/simplify.
  30. hiccup (noun) – temporary difficulty, issue, trouble.
  31. inevitable (adjective) – unavoidable, unpreventable, certain.
  32. consensus (noun) – an idea or opinion that is shared by all the people in a group. agreement, concurrence.
  33. federal (adjective) – relating to a system of government in which a number of (individual) states form a unity but remain independent in internal affairs.

Note:

  1. 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/.
  2. 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. 
  3. This word list is for personal use only. Reproduction in any format and/or Commercial use of it is/are strictly prohibited.
Exit mobile version