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Enrich your vocab for Bank exam: ‘Politics trumps ideology’

Feb 8, 2017 18:10 IST
Vocab for Bank Exam
Vocab for Bank Exam

We all agree to this fact that vocabulary is one of the most important aspects in any reading comprehension. It entirely depends on the meaning which you comprehend. The more words you know, the better you are able to comprehend. It also enhances your speaking, listening and writing skills. Therefore, one should work towards developing new words along with their synonyms and antonyms. While reading something, you should pay emphasis on understanding their context and meaning, instead of memorizing it. Here is Vocab Quiz based on the article taken from ‘The Hindu’.

All the best for your preparation!

Article: Politics trumps ideology

The macroeconomic credentials of the Budget are quite impressive. The highlight is a greater than 25% increase in capital spending and a substantial increase in the transfer to the States.

Stating that the Budget represented the philosophy of his government to ‘Transform, Energise and Clean’ India, the Finance Minister has presented a Budget that is in many ways quite impressive. As the details were not out even on the Finance Ministry’s website at the time of writing, it is not possible to evaluate it fully in the sense of being able to assess whether the Minister’s claims on revenue expectation, and therefore the deficit, are credible. However, the budgetary allocations are intelligent and do add up to a reasonable vision of what the economy needs at the moment. In fact, after having presented three quite lacklustre Budgets in a row Mr. Jaitley appears to have learned on the job. His presentation was businesslike and knowledgeable and specific about the interventions that he had in mind. It is to be hoped that we are seeing the beginning of a competition among our political parties to present meaningful Budgets for the people of India, Budgets without literary embellishment and responsible in their approach.

Despite the reasonableness of many of the allocations and some of the tax measures, however, the Finance Minister started the Budget speech with claims that are either untenable or irrelevant. There is excessive credit taken for the current macroeconomic stability in terms of a low balance-of-payments deficit and inflation, both of which reflect the slowing of growth in India. Now the trope, often adopted by the Prime Minister himself, that India is the sole “bright spot” in the world economy is beside the point. Moreover, the foreign exchange reserves that the Minister alluded to were almost as high even when this government had taken over in May 2014. Surprisingly for a government that takes pride in India’s cultural autonomy, there was reference to the plaudits that management of the Indian economy had received from the World Bank, the United Nations Development Programme and the World Economic Forum. But most noticeable was his laboured effort to rationalise the demonetisation. Spoken of as a measure “to honour the honest”, there was little reference to the economic uncertainty that it has caused. The benefits, it was blithely claimed, would come in the train of events, with no specifics whatsoever being outlined.

Impressive surprises

Whatever the opening rhetoric on the performance of the Modi government so far, the macroeconomic credentials of the Budget are quite impressive, however. The highlight is a greater than 25% increase in capital spending and a substantial increase in the transfer to the States. These indicate the need to stimulate the economy and to cultivate a more healthy federal relationship, respectively. It is with respect to the increased capital expenditure, though, that the Minister has shown himself to be quite statesmanlike. It may be noted that the increase in capital expenditure in his last Budget was less than 4%. So we have a quantum leap here. Clearly, the dip in the rate of growth even before the quarter in which the demonetisation was implemented has served to energise this government. It seems there is nothing like a slowing economy to concentrate the mind of a political party in a democracy! But the politics aside, the increase in capital expenditure is impressive and can indeed contribute to an improvement in the quality of life in India.

It is with respect to fiscal consolidation that there has been a pleasant surprise. Despite the hectoring by professional economists and his political rivals to stick to the path of fiscal consolidation aimed at capping the fiscal deficit at 3% of GDP, Mr. Jaitley has shown nerve to step on the brake and glide it down to 3.2% for now. While the exact figure may be a point of discussion, it is to be hoped that the fixation with a fixed target for the fiscal deficit is now a thing of the past. The Budget is to be balanced over the cycle, i.e., expanded as the economy slows and contracted as it quickens, the rest is merely ideology.

The rural outreach

But it is not as if the Minister can walk away with only the bouquets as far as fiscal management is concerned. There could have been a greater effort to trim the revenue deficit; at least a statement of the intention of eliminating it altogether in the future. A revenue deficit implies that we are borrowing to consume. It is not surprising that there has been little movement in this direction, for the Modi government is no different from the rest of the field when it comes to subsidies. But it has done the right thing in raising the allocation for the Mahatma Gandhi National Rural Employment Scheme. The allocation of ₹48,000 crore for this employment guarantee scheme is the highest in the history of this scheme. Now, only the implementation remains. It is important to ensure that beneficiaries receive their full payment on time and that the expenditure is targeted on asset-building to the extent feasible.

Away from the fiscal balances, the Budget does have a clear orientation. It is towards the rural population, for which the allocation of ₹1,87,223 crore is higher by 24%. Specifically, the allocation for rural sanitation is higher by 18% and there is the impressive target of achieving 100% electrification by 2018. The benefits of the latter would go disproportionately to rural India, and this is overdue. There are also incentive schemes for the attainment of open-defection-free villages in the form of the supply of arsenic- and fluoride-free piped water to them. Panchayati Raj institutions are to receive assistance to raise their level of human resource endowment and a special fund for irrigation has been created, to be operated by NABARD (National Bank for Agriculture and Rural Development). Two claims on what the Budget does for rural India, however, stand out as either overambitious or vague. It is suggested that agriculture will continue to grow by 4.1%. This induces incredulousness as such a rate has not been consistently attained in the country. Secondly, there is a plan to lift 50,000 gram panchayats out of poverty. We are yet to be told how these will be chosen and, more to the point, given an idea of the plan.

While the focus on rural India is welcome, it could have been politically driven and may have resulted in some loss of clarity on what is salient. While the largest number of Indians do reside in the rural areas, agriculture contributes to less than 20% of the national income. One cannot help but wonder what the government, through this Budget, intends for the remaining 80%. After all, it is not so long ago that the government’s main programme had been ‘Make in India’, a plan to expand manufacturing, and one of Mr. Modi’s first journeys upon election had been to the lair of the global CEO in New York. Manufacturing growth is important as it has a high elasticity of employment generation and the poverty rate is higher in urban India. Could it be that the government smartly sensed that the technocratic case for a high economic multiplier in fiscal spending is also aligned with the biggest political ‘bang for the buck’? Politics trumps ideology in this Budget, and, for a change, that is welcome.

1. Macroeconomic (adjective) (समष्टि अर्थशास्त्र): refers to the branch of economics which is concerned with large-scale or general economic factors as interest rates, etc.

Synonym: None

Antonym: None

Sentence: The latest example of macroeconomics is the study of national productivity vs per capita income.

2. Lackluster (adjective) (धुंधला):  Which lacks luster or shine.

Synonym: Dull, boring, muted, uninspired

Antonym: Bright, lively, shining, spirited

Sentence: A dull and a boring party is a clear example of his lackluster efforts.

3. Embellishment (noun) (आभूषण): refers to make something more beautiful or interesting by adding something in it.

Synonym: Adornment, ornamentation, beautification, decoration

Antonym: Plainness, simplification, injury, spoliation

Sentence: This is such a romantic setup that it doesn’t need any sort of embellishment.

4. Untenable (adjective) (अरक्षणीय): refers to a theory or an argument which cannot be supported or defended against.

Synonym: Illogical, indefensible, flawed, unsupportable

Antonym: Sound, arguable, reasonable, sustainable

Sentence: There is no point arguing on this case since it is totally untenable.

5. Trope (noun) (अलंकार): refers to the figure of speech.

Synonym: Adumbration, allegory, allusion, analogue

Antonym: Concrete, entity, plain speech

Sentence: She used a bride’s veil as a pictorial trope.

6. Plaudits (noun) (शाबाशी): is the applause of an audience.

Synonym: Acclaim, cheers, clapping, hurrahs

Antonym: Blame, censure, criticism, disapproval

Sentence: The celebrity received plaudits for its commendable work in the film.

7. Blithely (adverb) (प्रसन्नतापूर्वक): is a happy or carefree manner.

Synonym: Gaily, flamboyantly, gleefully, merrily

Antonym: Sadly, solemnly, unhappily, dolefully

Sentence: The arrest order of the local goon was blithely ignored by the police commissioner.

8. Rhetoric (noun) (वाक्पटुता): refers to an effective or persuasive speaking or writing.

Synonym: Hyperbole, oratory, eloquence, composition

Antonym: Quiet, conciseness, simple, dull

Sentence: If you are looking for an editorial work in any reputed magazine then you should work on your rhetoric skills.

9. Hectoring (verb) (धमकी-भरा): is to talk or behave towards someone in a loud and unpleasantly forceful way.

Synonym: Bully, browbeat, nag, badger

Antonym: Assuage, please, assist, encourage

Sentence: My elder brother always hectors me to get my favorite candies.

10. Technocratic (adjective) (तकनीकज्ञ): refers to someone who is an expert in science or technology and has lot of power and influence.

Synonym: None

Antonym: None

Sentence: His technocratic approach towards the demonitisation helped everyone at this hour.

Question (1-5): Answer the following as directed

1. Find out the words which mean the same as ‘substantial’(ठोस)

1. Insignificant
2. Little
3. Hefty
4. Meaningless
5. Other than those given in options

Solution: Option (3)

Explanation: The given word refers to something which is of considerable importance, size or worth. From theabove-given options, option (3) is a right choice as the synonym of the word.

2. Find out the words which mean the same as ‘autonomy’ (स्वराज्य)

1. Liberty
2. Dependence
3. Compulsion
4. Constraint
5. Other than those given in options

Solution: Option (1)

Explanation: The given word refers to the right or condition of elf government. Hence, from the given options, option (1) is the correct choice as the synonym of the word.

3. Find out the words which mean the same as ‘quantum leap’(बहुत बड़ा परिवर्तन)

1. Quantum Solace
2. Breakthrough
3. Leap frog
4. Beleap
5. Other than those given in options

Solution: Option (2)

Explanation: The given word refers to a sudden progress or advancing at a rapid pace. So, from the given options, option (2) is an apt choice as the synonym of the word given in the options.

4. Find out the words which mean the same as ‘ideology’ (विचारधारा)

1. Capitalism
2. Superstitious
3. Faith
4. Dogma
5. Other than those given in options

Solution: Option (4)

Explanation: The given word refers toa set of opinions or beliefs of a group or an individual. So, from the given options, option (4) is the right choice as the synonym of the word given in the options.

5. Find out the words which mean the same as ‘endowment(दान)

1. Debt
2. Loss
3. Grant
4. Drawback
5. Other than those given in options

Solution: Option (3)

Explanation: The given word refers toa gift or money which is given to the institution or it also means the personal talent or an inherited ability. Hence, from all the above options, option (3) is the right choice as the synonym of the word given in the options.

Word of the Day

Fetter

Meaning (English) – is to keep someone within limits or stop them from making progress.

Meaning (Hindi) – रुकावट

Synonyms – Clog, encumber

Antonyms – Encourage, expedite

Example – The terrorist was laid bound in fetters of iron chain.

उदाहरण –आतंकवादी को लोहे की चेन से बांधकर रखा गया था.

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