Editorial with vocab for banking exams :-“A message aimed at the heart of India”

Editorial with vocab for banking exams :-“A message aimed at the heart of India”

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ALLIANCE’s electoral reverses in Bihar, Finance Minister Arun Jaitley has made bold to address the PERCEPTION DEFICIT in announcing a RAFT of proposals aimed at the rural sector and farmers. From a CESS of 0.5 per cent on all taxable services that would expressly be used to finance improvements in agriculture and schemes to benefit farmers, to a dedicated long-term irrigation fund with a corpus of Rs.20,000 crore, the Union Budget seeks to pave the path for making good Prime Minister Narendra Modi’s promise to double farm incomes by 2022. Other measures to further this course include an outlay of Rs.19,000 crore that the Central government will spend this year on rural roads as part of its goal to ensure that all HABITATION are connected by 2019, and a push to achieve universal village electrification in the next two years. Between improved road connectivity and the availability of electricity, the potential is significant for a multiplier effect on the rural economy and improvements to the quality of life for residents of the HINTERLAND. Two more steps are NOTEWORTHY. The Budget proposes the introduction of a health insurance scheme that would provide up to Rs.1 lakh as coverage against hospitalisation costs for economically weak households, with senior citizens above the age of 60 eligible for another Rs.30,000 in top-up cover. While the sum offered as protection is low by most standards for CONTEMPORARY critical in-hospital care, especially in the private sector, for the INDIGENT this could well mean the difference between not even attempting to seek medical care and a chance at surviving a DEBILITATING illness. The other, equally LAUDABLE, initiative is to provide all families below the poverty line with cooking gas. This can afford those in underprivileged homes the dignity of a quicker and less harmful way to keep their kitchen fires running.
From a larger macroeconomic PERSPECTIVE, Mr. Jaitley has for now said he will stick to his prior fiscal deficit commitments, but he has simultaneously FLAGGED the need for more flexibility in dealing with situations when overall economic conditions are unfavourable. For this he has proposed the setting up of a committee to review the entire road map MANDATED by the Fiscal Responsibility and Budget Management Act of 2003 to study the possibility of having a target range instead of fixed numbers that would give the government the needed policy space to align a fiscal expansion or contraction with credit availability. For the individual tax payer, the Budget offers little to cheer, save some tax sops that lower and middle income families can LEVERAGE to invest in affordable housing, or SQUIRREL AWAY some more cash from an increase in the deduction towards house rent. The salaried class is likely to feel hard done by a move to tax 60 per cent of the corpus created from contributions to the Employees’ PROVIDENT Fund starting April 1 as part of a move to create a ‘pensioned society’. With elections to five provincial Assemblies due this year, Mr. Jaitley’s focus on the rural and agrarian communities is clear proof that the Budget still retains its relevance as a powerful messaging tool of a government’s political STANCE. Whether Budget 2016 will ENGENDER a harvest of votes, only time will tell.

IMPORTANT WORDS WITH THEIR MEANING  On the editroial 

 

  • Stung – annoyed (feel upset by something) , चिढ़ा हुआ
  • Alliance – a union or association formed for mutual benefit , संधि
  • Perception – the quality of being aware of things , अनुभव
  • Deficit – the amount by which something is too small (money) , आभाव
  • Raft –  a large number of (a lot) ,बहुत सारा
  • Cess – tax , उपकर
  • Habitation – residence ,निवास
  • Hinterland – a part of the country that is far away from the big city areas ,आतंरिक इलाके
  • Noteworthy – worth paying attention to , ध्यान देने योग्य
  • Contemporary – existing or happening now ,समकालीन
  • Indigent – needy person (poor) ,गरीब
  • Debilitating – making someone or something weak ,कमजोरी लाने वाला
  • Laudable – deserving praise , सरहाने योग्य
  • Perspective – point of view , दृष्टिकोण
  • Flagged – highlighted , चिन्हित
  • Mandated – gave (someone) authority to act in a certain way ,शासनादेश
  • Leverage – use (something) to maximum advantage , लाभ लेना
  • Squirrel away – to hide or store something, especially money, in order to use it in the future , भविष्य क लिए छुपा देना
  • Provident – making arrangements for future needs, especially by saving money , दूरदर्शी ; भविष्य के लिए रखना
  • Stance – a way of thinking about something, especially expressed in a publicly stated opinion ,रवैया
  • Engender – to make something happen ,उत्पन्न होना
Ashutosh
Coordinator,Ibpsprepadda & PrepDesk. I love to write on competitive exam preparation. I am passionate about helping students and sharing exam prep resources. I love to make exam prep affordable and convenient for everyone.

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