THE HINDU EDITORIAL : JULY 17, 2018
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THE HINDU EDITORIAL : JULY 17, 2018
THE HINDU EDITORIAL – July 17, 2018 is one of the must read for the competitive exams like SBI PO Mains , SBI CLERK Mains Exam, BOB PO Manipal Online Exam. These topics are widely expected to be asked in the reading comprehension , Cloze Test or in Error Detection topics in the forthcoming exams. So gear up for your Exam preparation and learn new words daily.
a) Overdue correction: on revisiting the Companies Act
The Centre has announced the constitution of a committee to revisit several provisions of the Companies Act, 2013 that impose stiff penalties and, in some cases, prison terms as well, for directors and key management personnel. The 2013 law entailed the first massive overhaul of India’s legal regime to govern businesses that had been in place since 1956 and was borne of a long-drawn consultative process. Now, this 10-member committee appointed by the Corporate Affairs Ministry has been tasked with checking if certain offences can be ‘de-criminalised’. The panel, which includes top banker Uday Kotak, has been given 30 days to work out whether some of the violations that can attract imprisonment (such as a clerical failure by directors to make adequate disclosures about their interests) may instead be punished with monetary fines. It will also examine if offences punishable with a fine or imprisonment may be re-categorised as ‘acts’ that attract civil liabilities. Importantly, the committee has also been asked to suggest the broad contours for an adjudicatory mechanism that allows penalties to be levied for minor violations, perhaps in an automated manner, with minimal discretion available to officials. In fact, some of the provisions in the law are so tough that even a spelling mistake or typographical error could be construed as a fraud and lead to harsh strictures. The government hopes such changes in the regulatory regime would allow trial courts to devote greater attention to serious offences rather than get overloaded with cases as zealous officials blindly pursue prosecutions for even minor violations. The decision to build in harsh penalties and prison terms for corporate misdemeanours in the 2013 law was, no doubt, influenced by the high-pitched anti-corruption discourse that prevailed in the country at that moment in time. Apart from several cases of crony capitalism that had come to light during the second UPA government, massive corporate frauds reported at once-revered firms such as the erstwhile Satyam Computer Services had spooked investors and other stakeholders about the credibility of corporate India’s books and governance standards. When the NDA came to power in May 2014, a comprehensive review of the Companies Act was at the top of industry’s wish list as a means to revive the economy. Industry captains had red-flagged the impact of such provisions on the ease of doing business, and investor sentiment in general. A trust deficit between industry and government owing to stray incidents of corporate malfeasance should not inhibit normal business operations, they had argued. Four years down the line, the government is finally moving purposefully on this, a rethink perhaps triggered by the fact that private sector investment is yet to pick up steam and capital still seeks foreign shores to avoid regulatory risks. One hopes this is followed up on swiftly, before the ruling party slips into election mode.
b) Football fever: on World Cup 2018
Russia 2018 may not, as FIFA president Gianni Infantino delicately put it, have been “the best World Cup ever”, but there is no denying that it was among the most entertaining. The final was a snapshot of the tournament as a whole: a thrilling spectacle featuring surprises, errors, and loads of goals. There was no single outstanding team but France, which secured its second World Cup, was the best of the lot over the five weeks. The French — coached by Didier Deschamps, who won the trophy as a player in 1998 and now emulates Mário Zagallo and Franz Beckenbauer — did not exactly play beautiful football. Often, they appeared workmanlike and conservative despite the frightening depth of talent. But they were efficient, organised, and clinical when it mattered, downing a doughty, unlucky Croatia at the final hurdle. For all the criticism of his methods, the plain fact is that Deschamps achieved the ultimate objective. Kylian Mbappe, who at 19 became the youngest to score in the World Cup final since Pele, showed glimpses of his extraordinary potential; he now looks set for greater things. France’s victory also shone a spotlight on the nation’s diversity, with players of African descent making up over half the squad. “There are different origins but we are all united,” Antoine Griezmann said after the final. “That is the France we love.” This was a World Cup of shocks: Germany crashed out in the opening phase for the first time since 1938, Spain and Argentina faltered in the round-of-16, and Brazil in the quarterfinals. Teams built around superstars struggled, with Lionel Messi and Cristiano Ronaldo exiting before the last eight, while the likes of Croatia and Uruguay, which relied on collective spirit, advanced farther than expected. For Croatia, marshalled by the excellent Luka Modric, there is no disgrace in defeat. The nation’s relationship with its football team — and Modric in particular — is a complicated one, and has its roots in a corruption scandal involving a powerful former administrator. But on the pitch, the East European side showed great resilience. Russia 2018 will also be remembered for the home team’s spirited run to the quarterfinals, with the whole nation caught up in the euphoria. Russia put on a great show as host, its people warm and welcoming as fears of racist behaviour proved unfounded. The baton has now been handed over to Qatar, which in 2022 will host a winter World Cup for the first time. FIFA has approved the expansion of the World Cup to 48 teams in 2026, a decision that has divided opinion. As he celebrates the success of Russia 2018, Infantino has much to think about.
WORDS/ VOCABULARY
1) Stiff
Meaning: Severe or strong.
Example: “they face stiff fines and a possible jail sentence”
Synonyms: Harsh, Severe
Antonyms: Lenient, Mild
2) Entailed
Meaning: Involve (something) as a necessary or inevitable part or consequence.
Example: “a situation which entails considerable risks”
Synonyms: Require, Demand
3) Overhaul
Meaning: A thorough examination of machinery or a system, with repairs or changes made if necessary.
Example: “a major overhaul of environmental policies”
4) Consultative
Meaning: Intended to give professional advice or recommendations.
Example: “a process of consultative review”
5) Tasked
Meaning: Assign a task to.
Example: “NATO troops are tasked with separating the warring parties”
6) Contours
Meaning: An outline representing or bounding the shape or form of something.
Example: “she traced the contours of his face with her finger”
Synonyms: Outline, Form
7) Adjudicatory (Adjudicate)
Meaning: Make a formal judgement on a disputed matter.
Example: “the Committee adjudicates on all betting disputes”
8) Discretion
Meaning: The freedom to decide what should be done in a particular situation.
Example: “local authorities should use their discretion in setting the charges”
Synonyms: Choice, Option
9) Construed
Meaning: Interpret (a word or action) in a particular way.
Example: “his words could hardly be construed as an apology”
Synonyms: Interpret, Understand
10) Strictures
Meaning: A statement of severe criticism or disapproval.
Example: The strictures of the United Nations have failed to have any effect on the warring factions.
Synonyms: Disapprove, Criticize
11) Zealous
Meaning: Having or showing zeal.
Example: “the council was extremely zealous in the application of the regulations”
Synonyms: Fervent, Ardent
Antonyms: Apathetic, Indifferent
12) Misdemeanours
Meaning: a minor wrongdoing.
Example: “the player can expect a suspension for his latest misdemeanour”
Synonyms: Wrongdoing, Crime
13) Influenced
Meaning: Have an influence on.
Example: “feminist ideas have influenced the law-makers”
Synonyms: Affect, Determine
14) Prevailed
Meaning: Be widespread or current in a particular area or at a particular time.
Example: “a friendly atmosphere prevailed among the crowds”
Synonyms: Exist, Obtain
15) Crony capitalism
Meaning: An economic system characterized by close, mutually advantageous relationships between business leaders and government officials.
Example: “allegations of crony capitalism have plagued the government”
16) Revered
Meaning: Feel deep respect or admiration for (something).
Example: “Cézanne’s still life was revered by his contemporaries”
Synonyms: Respect, Admire
Antonyms: Despise
17) Erstwhile
Meaning: Former.
Example: “the erstwhile president of the company”
Synonyms: Former, Old
Antonyms: Present, Future
18) Spooked
Meaning: Frighten; unnerve.
Example: “they spooked a couple of grizzly bears”
19) Revive
Meaning: Give new strength or energy to.
Example: “the cool, refreshing water revived us all”
Synonyms: Reinvigorate, Revitalize
Antonyms: Torpefy
20) Stray
Meaning: To start thinking or talking about a different subject from the one you should be giving attention to.
Example: I think we’ve strayed too far from our original plan.
21) Malfeasance
Meaning: An example of dishonest and illegal behaviour, especially by a person in authority.
Example: Several cases of malpractice and malfeasance in the financial world are currently being investigated.
Synonyms: Dishonest
22) Triggered
Meaning: Cause (an event or situation) to happen or exist.
Example: “an allergy can be triggered by stress or overwork”
Synonyms: Precipitate, Prompt
23) Pick up steam
Meaning: To start working or producing at a faster rate or more effectively.
Example: After a slow start, the project began to pick up steam.
24) Snapshot
Meaning: A shot in soccer or hockey taken quickly with little backlift.
Example: “Morris had to make a good save from a snapshot by a defender”
25) Spectacle
Meaning: A visually striking performance or display.
Example: “the acrobatic feats make a good spectacle”
Synonyms: Display, Performance
26) Outstanding
Meaning: Exceptionally good.
Example: “the team’s outstanding performance”
Synonyms: Excellent, Marvelous
Antonyms: Mediocre, Unexceptional
27) Emulates
Meaning: Match or surpass (a person or achievement), typically by imitation.
Example: “most rulers wished to emulate Alexander the Great”
Synonyms: Imitate, Reproduce
28) Workmanlike
Meaning: Showing efficient competence but not inspiration.
Example: “a steady, workmanlike approach”
Synonyms: Efficient, Competent
Antonyms: Amateurish
29) Frightening
Meaning: Making someone afraid or anxious; terrifying.
Example: “a frightening experience”
Synonyms: Scare, Terrify
30) Clinical
Meaning: Very efficient and without feeling; coldly detached.
Example: “nothing was left to chance—everything was clinical”
Synonyms: Detached, Impersonal
Antonyms: Emotional
31) Doughty
Meaning: Brave and persistent.
Example: “his doughty spirit kept him going”
Synonyms: Fearless, Dauntless
Antonyms: Timid
32) Glimpses
Meaning: A quick idea or understanding of what something is like; a brief insight or indication.
Example: This biography offers a few glimpses of his life before he became famous.
33) Shone
Meaning: Be very talented or perform very well.
Example: “a boy who shone at nothing”
Synonyms: Excel, Ideal
34) Spotlight
Meaning: Intense scrutiny or public attention.
Example: “she was constantly in the media spotlight”
Synonyms: Attention, Highlight
35) Crashed out
Meaning: To lose in a sports competition when you were expected to win.
Example: He crashed out of the French Open in the second round.
36) Faltered
Meaning: Lose strength or momentum.
Example: “the music faltered, stopped, and started up again”
Synonyms: Stumble
37) Marshalled
Meaning: Assemble and arrange (a group of people, especially troops) in order.
Example: “the general marshalled his troops”
Synonyms: Gather, Assemble
Antonyms: Disperse, Scatter
38) Disgrace
Meaning: Loss of reputation or respect as the result of a dishonourable action.
Example: “he left the army in disgrace”
Synonyms: Shame, Outrage
Antonyms: Honour, Glory
39) Resilience
Meaning: The capacity to recover quickly from difficulties; toughness.
Example: “the often remarkable resilience of so many British institutions”
Synonyms: Flexibility, Ability
Antonyms: Rigidity, Weakness
40) Euphoria
Meaning: A feeling or state of intense excitement and happiness.
Example: “in his euphoria, he had become convinced he could defeat them”
Synonyms: Elation, Happiness
Antonyms: Misery, Depression
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