The Hindu Lead Article (Revise the text of the Budget speech) – Jan 28, 2021
It is that time of year in India, when all eyes and ears turn to the Finance Minister to learn what she will unveil in the annual Union Budget. For further reading, visit “The Hindu”. Below is today’s advanced word list-1 for The Hindu Lead Article (Revise the text of the Budget speech) – Jan 28, 2021.
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Courtesy: The Hindu
Today’s Advanced Word List 1 for The Hindu Lead Article (Revise the text of the Budget speech) – Jan 28, 2021:
- text (noun) – subject, topic, theme, point.
- expansionary (adjective) – (of an action) planned to cause economic expansion.
- fiscal stance (noun) – the method by which the government adjusts its spending & taxes to affect the economy. It involves government discretion (opinion) with respect to its budgetary policy orientation.
- prioritise (verb) – make a point of, highlight, call attention to (something as very important).
- provision (noun) – facilities, services, resources, arrangements.
- all eyes and ears (phrase) – used to refer to watching & listening to something eagerly & carefully.
- unveil (verb) – present, disclose, make public.
- moot (adjective) – debatable, arguable, questionable.
- novel coronavirus (nCoV) (SARS-CoV-2) (noun) – a new strain (type/variety) coronavirus that has not been previously identified in humans. (Courtesy: WHO)
- 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.
- pore over (verb) – study, read intently, examine, go through.
- self-congratulatory (adjective) – self-satisfied, self-admired, excessively proud, overly complacent.
- withstand (verb) – stand up to, stand firm against, cope with, survive, live through.
- set on (phrase) – go on, advance.
- enable (verb) – allow, facilitate, make something possible.
- revival (noun) – improvement, rallying, picking up; comeback.
- downplay (verb) – play down, under emphasize, understate; make something to look less important/significant.
- in the face of (phrase) – despite, notwithstanding, regardless of; when confronted with.
- absolute (adjective) – total, complete, full; definite.
- rather than (phrase) – instead of.
- government spending or public spending (noun) – money spent by the government.
- in need (phrase) – needy, deprived, disadvantaged, underprivileged, poor, poverty-stricken, destitute.
- take credit for (phrase) – to get praise/appreciation for something, even if it is not deserved.
- fiscal deficit (noun) – the difference between total expenditure and total income of the government.
- munificent (adjective) – generous, bountiful, liberal, open/big-handed.
- outline (verb) – define, delineate; indicate, summarize.
- turn out (phrasal verb) – transpire, emerge; happen.
- breathlessly (adverb) – In a method that is described by thrill/suspense.
- 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.
- downright (adverb) – completely, totally, undeniably.
- 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.
- tout (verb) – speak of, talk of, tip, expect/predict.
- formal sector/organised sector (noun) – formal economy; it is the part of an economy that is taxed, or monitored by any form of government.
- 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.
- social security (scheme/benefit) (noun) – (In India) social security schemes/benefits cover these (Pension, Health Insurance and Medical Benefit, Disability Benefit, Maternity Benefit, Gratuity) social insurances. The employers in the organized sector are entitled to coverage under these social security schemes. A large number of the Indian workers in the unorganized/informal sector may not have an opportunity to participate in each of these schemes.
- seek out (phrasal verb) – to keep searching for someone or something until you find out them; search out, look around.
- stock market (noun) – equity market, share market, a stock exchange. It is where traders buy and sell shares of companies on a public exchange.
- stratospheric (adjective) – very high.
- divorce (verb) – separate, disconnect, detach.
- livelihood (noun) – means of making a living with the basic necessities (food, water, shelter and clothing); means of support, subsistence, source of income.
- material (adjective) – relevant, applicable, pertinent, germane.
- distress (noun) – difficulty, trouble, hardship.
- hunger (noun) – lack of food, need for food.
- untenable (adjective) – unjustified, unacceptable; faulty/flawed; illogical/irrational.
- fudge (noun) – compromise, cover-up.
- optimistic (adjective) – positive, confident, hopeful.
- projection (noun) – forecast, prediction, calculation.
- off-budget (adjective) – not included in the regular government budget.
- amplify (verb) – raise, intensify, escalate.
- disingenuous (adjective) – dishonest, deceitful, double-dealing.
- understate (verb) – play down, downplay, de-emphasize.
- bring up (phrasal verb) – raise something (a point/issue) for discussion.
- Comptroller and Auditor General (CAG) of India (noun) – it is empowered to audit all expenses from the combined fund of the union or state governments, whether incurred within India or outside. (Courtesy; https://cag.gov.in/).
- subsidy (noun) – also called as 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.
- dues (noun) – payment, contribution (which is (long) pending).
- Food Corporation of India (FCI) (noun) – The Food Corporation of Indi (FCI) is an organization created and run by the Government of India. It is a statutory body under the Ministry of Consumer Affairs, Food and Public Distribution, Government of India, formed by the enactment of Food Corporation Act 1964. It was set up on 14 January 1965 to implement the following objectives of the National Food Policy. Effective price support operations for safeguarding the interests of the farmers, Distribution of foodgrains throughout the country for public distribution system & Maintaining satisfactory level of operational and buffer stocks of foodgrains to ensure National Food Security.
- Special Purpose Vehicle (SPV) (noun) – also called a special purpose entity (SPE) or special purpose corporation (SPC); The word vehicle can be interchanged with market entity. The name SPV is given to an entity which is formed for a single, well-defined and narrow purpose. An SPV can be formed for any lawful purpose. SPVs are mostly formed to raise funds from the market. The biggest advantage is that it helps in separating the risk and freeing up the capital.
- Long Term Irrigation Fund (LTIF) (noun) – a fund under the National Bank for Agriculture and Rural Development (NABARD) for implementation of major and medium irrigation projects in India.
- amount to (verb) – add up to, come to a total of, represent, be equal to.
- strategy (noun) – plan of action (in order to achieve a more expansive set of political, economic, and security interests).
- compensation (noun) – payment, repayment, settlement (for loss/damage).
- Goods and Services Tax Compensation (noun) – Under the GST law (In India), state governments are guaranteed full compensation for any revenue loss for the first five years after the introduction of the goods and services tax (GST) in July 2017. The compensation is a gap between actual revenue collected and projected revenue.
- 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.
- mandated (verb) – make something mandatory/compulsory; require to do something.
- go in for (phrase) – take part in, participate in, be a participant in, engage in, get involved in.
- underline (verb) – underscore, emphasize, highlight.
- piece of fiction (or) fiction (noun) – untruth, falsehood, fib, fabrication, deception, made-up story, falsification.
- go by (phrasal verb) – comply with, observe, conform to, follow.
- gauge (verb) – judge, assess, evaluate, appraise, analyse.
- lockdown-induced (adjective) – produced/effected by lockdown.
- afloat (adjective) – out of burden, out of difficulty, out of debt.
- stimulus package (noun) – an attempt by the government to boost economic growth and save their country from a financial crisis by involving tax cuts, lowering interest rates and increasing government spending.
- apparently (adverb) – seemingly, evidently, it appears that.
- keep pace with (phrase) – progress at the same speed as.
- inflation (noun) – simply meaning “cost of living”; the increase in the price level of goods & services and vice versa decrease of currency value.
- add to (phrasal verb) – increase, amplify, intensify.
- deprive of (verb) – dispossess, strip of, deny, prevent from having.
- macroeconomically (adverb) – used to indicate the branch of economics concerned with large-scale factors (interest rates/national productivity).
- macroeconomic (adjective) – relating to the branch of economics concerned with large-scale factors (interest rates/national productivity).
- contractionary (adjective) – relating to the contraction (decline) of a country’s economy.
- prolong (verb) – extend, lengthen, protract, stretch out.
- recession (noun) – economic decline, slowdown, downturn, depression, slump.
- demonetisation (noun) – the act of depriving a currency unit (note/coin) of its status as money.
- train (noun as modifier) – chain, string, series, sequence.
- contraction (noun) – In economics, it refers to a decline in national output as measured by gross domestic product; shrinking, decline, decrease.
- eventually (adverb) – in the end, in due course, after some time.
- come (back) to bite (phrase) – to cause problems in the future.
- under way (phrase) – in progress, happening, occurring, taking place.
- ephemeral (adjective) – temporary, short-term, transitory, momentary, short-lived, brief.
- stagnate (verb) – decline/deteriorate, fall; stand still, be sluggish.
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.
3. This word list is for personal use only. Reproduction in any format and/or Commercial use of it is/are strictly prohibited.
Today’s Advanced Word List 1 for The Hindu Lead Article (Revise the text of the Budget speech) – Jan 28, 2021: