THE HINDU EDITORIAL : DECEMBER 3, 2018
THE HINDU EDITORIAL : DECEMBER 3, 2018
Dear Banking Aspirants,
THE HINDU EDITORIAL – December 3, 2018, is one of the must-read section for the competitive exams like IBPS Clerk 2018, Canara Bank PO – PGDBF 2018 and IBPS SO 2018. These topics are widely expected to be asked in the reading comprehension, Cloze Test or Error Detection in the forthcoming exams. So gear up your Exam preparation and learn new words daily.
A) Slowdown signals: on Q2 growth estimates
Growth estimates for the second quarter show the challenge of shoring up rural demand
The growth estimates for the July-September quarter from the Central Statistics Office show that the economy’s expansion predictably slowed. GDP growth weakened to 7.1%, from the robust 8.2% in April-June, as rising oil prices combined with a weakening rupee to dampen demand. Gross value added (GVA) data show five of the eight sectors reflecting the slowdown from the first quarter, with only utility services, public administration, defence and other services, and trade, hotel, transport, communication and broadcasting services bucking the trend. Worryingly, GVA growth in agriculture, forestry and fishing eased to 3.8%, from 5.3% three months earlier, as foodgrain output in the kharif season inched up a mere 0.6% (production had expanded by 1.7% in the previous year). Given the distress in the farm sector, below-normal monsoon rains and a shortfall of over 8% in rabi sowing till November 30, the outlook for rural demand remains challenging at least for the next couple of quarters. This demand weakness in the hinterland is also evident in the consumption spending data, with growth in private final consumption expenditure slowing to 7%, compared to 8.6% in the first quarter. Manufacturing, though posting a 7.4% expansion, also poses cause for concern as the momentum almost halved from the June quarter’s 13.5% and slipped back nearer to the year-earlier level of 7.1%. Index of Industrial Production data reveal that growth in manufacturing output remained becalmed at 4.6% through August-September, and when seen alongside the weakness in car and two-wheeler sales, suggest an acceleration may be some time away.
To be sure, not all data paint a less-than-encouraging picture. Gross fixed capital formation (GFCF), a key metric for investment demand, expanded by a robust 12.5%, building on the first quarter’s 10% increase, and constituted 32.3% of GDP. With non-food bank credit also showing signs of a recovery, there is the discernible prospect of an investment revival. An RBI research paper posits that improvement in investment activity is being driven by cyclical factors and may last up to 2022-23, when the investment rate as measured by the GFCF is estimated to increase to 33% of GDP. The same RBI paper, however, points to risks to the investment outlook and flags the gross fiscal deficit as a key pressure point, given that borrowing by the government invariably crowds out investment demand. Here, the latest expenditure and receipts figures released by the Controller-General of Accounts are not reassuring: the fiscal deficit crossed the budget estimate for the full year in just the first seven months, raising the chances that the Centre would miss its target of limiting the deficit to 3.3% of GDP. With multiple uncertainties looming on the global trade and growth horizon and elections approaching, India’s economic managers will need to be at their best to keep the momentum from sliding.
B) Symbol of a lost order: On George H.W. Bush
George H.W. Bush saw in the post-Cold War era, and also the lost promise of that moment
The passing of George H.W. Bush, the 41st President of the United States, from 1989 to 1993, is an occasion to contextualise the current turbulence in the world, especially in liberal democracies. Three events — the first Gulf War, the fall of the Berlin Wall and the dissolution of the Soviet Union — that occurred on his watch set in motion a global churn that remains with us. It was his predecessor, Ronald Reagan, who gave a rhetorical flourish to America’s pursuit of global dominance in the 1980s with his depiction of the Soviet Union as the “evil empire”, and his call to “break that wall”. Bush, his Vice President and then successor, was not known for any rousing oratory, but one phrase he coined, a “new world order”, turned out to be defining, initially for its triumph, and now for its decline. “A new era, freer from the threat of terror, stronger in the pursuit of justice, and more secure in the quest for peace… Today that new world is struggling to be born, a world quite different from the one we’ve known,” he said before the war that evicted Saddam Hussein’s invading army from Kuwait. His address in 1990 before a joint session of Congress was on September 11, a date that would become a haunting symbol of the world that we now live in, new but not in the manner that Bush had hoped.
Bush lived to see the unravelling of the world order and the concomitant turmoil. It is no coincidence that nationalists such as President Donald Trump define their politics as a rejection of the order that led their societies for the “last 30 years”. Colin Powell and Dick Cheney, American war enthusiasts who shaped its 43rd President George W. Bush’s bravado and arrogance, and contributed to his ignorance, rose to prominence during Bush Sr.’s presidency. He was also criticised for overlooking Pakistan’s pursuit of nuclear weapons and neglecting Afghanistan in the years that followed the withdrawal of the Soviets. But connecting him to his son’s follies, the relative decline of America and the disorder in the world offers only a limited explanation of our times, besides being unfair to Bush’s legacy. Bush, the last World War veteran to become U.S. President, represented a bygone era. He sought the middle ground and consensus in domestic and international politics, built alliances, restrained his words in moments of triumph, had an introspective streak on the U.S. economic model, and tried to appreciate the aspirations of other countries. He sent handwritten notes to people and lamented how moderation had become a bad word. But change was on the horizon. After him, conservative politics in the U.S., including that led by his son, took a strident turn. It is not surprising that he did not deny reports that he did not vote for Mr. Trump in 2016.
Meaning : in a way that can be predicted; as expected.
Synonyms : certain
Antonyms : improbable
Example : “so far the markets have behaved predictably”
Meaning : make slightly wet(v).
Tamil Meaning : குறைக்கும்
Synonyms : humidify
Antonyms : collect
Example : “the fine rain dampened her face”
Meaning : oppose or resist (something oppressive or inevitable).
Synonyms : oppose
Antonyms : agree
Example : “the shares bucked the market trend”
Meaning : extreme anxiety, sorrow, or pain(n).
Tamil Meaning : துயரத்தில்
Synonyms : ache
Antonyms : aid
Example : “to his distress he saw that she was trembling”
Meaning : (of a sound) loud and harsh; grating(adj).
Tamil Meaning : கடுமையானதாக
Synonyms : blatant
Antonyms : quiet
Example : “his voice had become increasingly strident”
Meaning : a person’s point of view or general attitude to life.
Tamil Meaning : கண்ணோட்டம்
Synonyms : attitude
Antonyms : indifference
Example : “he had a practical outlook on life”
Meaning : the remote areas of a country away from the coast or the banks of major rivers.
Synonyms : outback
Antonyms : metropolis
Example : “the hinterland of southern Italy”
Meaning : clearly seen or understood; obvious.
Tamil Meaning : தெளிவாக
Synonyms : conspicuous
Antonyms : concealed
Example : “she ate the biscuits with evident enjoyment”
Meaning : the action of using up a resource.
Tamil Meaning : நுகர்வு
Synonyms : utilization
Antonyms : construction
Example : “industrialized countries should reduce their energy consumption”
Meaning : present or constitute (a problem or danger).
Synonyms : posture
Antonyms : reality
Example : “the sheer number of visitors is posing a threat to the area”
Meaning : relate to; be about(v).
Tamil Meaning : அக்கறை
Synonyms : burden
Antonyms : pastime
Example : “the story concerns a friend of mine”
Meaning : divide into two parts of equal or roughly equal size(v).
Tamil Meaning : பாதியாக
Synonyms : bisect
Antonyms : combine
Example : “halve the aubergine lengthways”
Meaning : make (previously unknown or secret information) known to others(v).
Tamil Meaning : வெளிப்படுத்த
Synonyms : affirm
Antonyms : conceal
Example : “Brenda was forced to reveal Robbie’s whereabouts”
Meaning : (of a sailing ship) unable to move through lack of wind.
Synonyms : compose
Antonyms : distress
Example : “his ship was becalmed for nine days”
Meaning : strong and healthy; vigorous(adj).
Tamil Meaning : வலுவான
Synonyms : hefty
Antonyms : fragile
Example : “the Caplan family are a robust lot”
Meaning : able to be discerned; perceptible(adj).
Tamil Meaning : கவனிக்கத்தக்க
Synonyms : apparent
Antonyms : ambiguous
Example : “the scandal had no discernible effect on his career”
Meaning : an improvement in the condition, strength, or fortunes of someone or something(n) .
Tamil Meaning : மறுமலர்ச்சி
Synonyms : rejuvenation
Antonyms : destruction
Example : “a revival in the fortunes of the party”
Meaning : an excess of expenditure or liabilities over income or assets in a given period.
Tamil Meaning : பற்றாக்குறை
Synonyms : shortfall
Antonyms : abundance
Example : “an annual operating deficit”
Meaning : appear as a vague form, especially one that is large or threatening(v).
Synonyms : brew
Antonyms : decline
Example : “vehicles loomed out of the darkness”
Meaning : place or study in context(v).
Synonyms : parse
Antonyms : isolate
Example : “the excellent introduction summarizes and contextualizes Bowen’s career”
Meaning : violent or unsteady movement of air or water, or of some other fluid.(n)
Tamil Meaning : கொந்தளிப்பு
Synonyms : conflict
Antonyms : harmony
Example : “the plane shuddered as it entered some turbulence”
Meaning : the action of formally ending or dismissing an assembly, partnership, or official body.
Synonyms : disintegration
Antonyms : connection
Example : “the dissolution of their marriage”
Meaning : the action of pursuing someone or something(n) .
Tamil Meaning : நோக்கத்தில்
Synonyms : hunt
Antonyms : retreat
Example : “the cat crouched in the grass in pursuit of a bird”
Meaning : relating to or concerned with the art of rhetoric.
Tamil Meaning : சொல்லாட்சி
Synonyms : oratorical
Antonyms : concise
Example : “repetition is a common rhetorical device”
Meaning : a bold or extravagant gesture or action, made especially to attract attention(n).
Synonyms : curl
Example : “with a flourish, she ushered them inside”
Meaning : the action of depicting something, especially in a work of art.
Tamil Meaning : சித்தரிப்பு
Synonyms : outline
Example : “the painting’s horrific depiction of war”
Meaning : exciting; stirring.
Tamil Meaning : எழுச்சியூட்டும்
Synonyms : chirpy
Antonyms : dispirited
Example : “a rousing speech”
Meaning : a conventional way of describing someone who has died or something that has ceased to exist.
Synonyms : deplore
Antonyms : relieve
Example : the late and much lamented Leonard Bernstein”
Meaning : a great victory or achievement(n).
Tamil Meaning : வெற்றி
Synonyms : pride
Antonyms : forfeit
Example : “a garden built to celebrate Napoleon’s many triumphs”
Meaning : enter (a place, situation, or sphere of activity) in large numbers, especially with intrusive effect.
Synonyms : infect
Antonyms : assist
Example : “demonstrators invaded the Presidential Palace”
Meaning : expel (someone) from a property, especially with the support of the law.
Tamil Meaning : வெளியேற்றப்பட்ட
Synonyms : dislodge
Antonyms : hold
Example : “a single mother and her children have been evicted from their home”
Meaning : investigate and solve or explain (something complicated or puzzling)(v).
Tamil Meaning : அவிழ்ப்பதில்
Synonyms : resolve
Antonyms : entangle
Example : “they were attempting to unravel the cause of death”
Meaning : naturally accompanying or associated(adj).
Synonyms : accessory
Antonyms : unrelated
Example : “she loved travel, with all its concomitant worries”
Meaning : the state of being important, famous, or noticeable.(n)
Tamil Meaning : முக்கியத்துவம்
Synonyms : bulge
Antonyms : unimportance
Example : “she came to prominence as an artist in the 1960s”
Meaning : fail to notice.
Synonyms : discount
Antonyms : recognize
Example : “he seems to have overlooked one important fact”
Meaning : lack of good sense; foolishness(n).
Tamil Meaning : மதியீனங்கள்
Synonyms : indiscretion
Antonyms : intelligence
Example : “an act of sheer folly”
Meaning : a general agreement.
Tamil Meaning : ஒருமித்த
Synonyms : consent
Antonyms : denial
Example : “there is a growing consensus that the current regime has failed”
Meaning : characterized by reserve or moderation; unemotional or dispassionate.
Tamil Meaning : கட்டுப்படுத்தும்
Synonyms : discreet
Antonyms : communicative
Example : “his restrained, gentlemanly voice”
Meaning : averse to change or innovation and holding traditional values(adj).
Tamil Meaning : பழமைவாத
Synonyms : traditional
Antonyms : changeable
Example : “they were very conservative in their outlook”
Meaning : an element of a specified kind in someone’s character.
Synonyms : beam
Antonyms : lot
Example : “there’s a streak of insanity in the family”
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Other Important Notification: Released In October 2018