The Hindu Editorial Vocabulary 11th September 2024

The Hindu Editorial Vocabulary 11th September 2024 is an effective tool for learning new words and their contextual meanings regularly. Candidates can fully utilize this free resource daily to improve their vocabulary knowledge, especially those preparing for government exams like the IBPS PO, SBI Clerk, SSC, and Others.

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Soothing salvo: On new Group of Ministers and tax changes for insurance policies

-The GST Council has held out hope for some relief for insurance consumers.

Meeting for the second time after the 2024 general election results, the Goods and Services Tax (GST) Council on Monday (September 9, 2024) sought to calm some of the rising clamour (to make a loud complaint or demand) against the 18% indirect tax levy on insurance premium payments. A new Group of Ministers is being formed to urgently recommend tax changes for life and health insurance policies, with an assurance the Council would meet again in November to take a call on its report. This marks a notable (important and worthy of attention) shift from last month, when Finance Minister Nirmala Sitharaman had staunchly defended the levy in Parliament, noting that States earn a large chunk of these revenues and Members of Parliament, who took on the Centre on the matter must flag it with States’ Ministers as they are a party to the Council’s decisions. It must be noted that a reconsideration (thinking about something again) of GST levies on insurance had come up at least three times under the Council’s aegis (support or guidance), starting a year and a half since the GST’s July 2017 launch, but the status quo was preferred each time.

What is plausibly (believably or reasonably) different this time around is that the government’s own have echoed the sentiment. While Union Minister Nitin Gadkari has averred (stated confidently) that the GST levy on life insurance premium is tantamount (equivalent) to taxing the uncertainties of life, the BJP’s now-critical allies such as the TDP and Jana Sena Party have also sought a rollback (reduction or removal of previous increase) of the levies on health and life insurance. Perhaps not unrelated is the government’s post-poll decision to desist from tom-tomming (boasting or advertising loudly) GST’s buoyant monthly collections, perceived by many as a celebration of high levies on consumers. GST revenues just from health insurance premia rose over 54% between 2021-22 and 2023-24, yielding ₹8,262 crore last year. One hopes that any reduction in the GST on health covers considered by the Council is not selective or limited, for instance, to group policies or senior citizens or with a cap on the cover, and it is ensured they translate into real cuts in premia payments. After the COVID-19 pandemic, while awareness levels about health cover needs have risen, hospitalisation and insurance cover costs have spiked even faster. Given India’s inadequate (not enough or insufficient) public health systems, a serious disease or malaise (general feeling of discomfort or illness) afflicting a single family member can push an average household into poverty. For life covers, the Council could take a more nuanced approach by extending most relief to pure term insurance policies that help families tide over shocks, rather than to myriad market-linked investment products offered by the industry in the guise (false appearance or pretence) of insurance. If, in the Council’s wisdom, helicopter services availed on a ‘shared seat’ basis must attract only 5% GST, insurance policies surely deserve more benign (gentle or not harmful) taxation too.

Hindu Vocab Wordlist 11th September 2024

Upskill yourself and enhance your vocabulary knowledge. Candidates should begin learning new words daily with Hindu Editorial Vocabulary on 11th September 2024.

• Clamour: a loud complaint, especially by a lot of people.
• Notable: important and deserving attention, because of being very good or interesting.
• Reconsideration: the act of thinking again about a decision or opinion and deciding if you want to change it.
• Aegis: with the protection or support of someone or something, especially an organization.
• Plausibly: seeming likely to be true, or able to be believed.
• Averred: to say that something is certainly true.
• Tantamount: being almost the same or having the same effect as something, usually something bad.
• Rollback: the act of reducing or reversing the effect of something.
• Tom-tomming: to talk about something publicly in a way that makes it sound as if it is especially important.
• Inadequate: not good enough or too low in quality.
• Malaise: a general feeling of being ill or having no energy, or an uncomfortable feeling that something is wrong, especially with society.
• Guise: the appearance of someone or something, especially when intended to deceive.
• Benign: pleasant and kind; not harmful or severe.

Hindu Vocab Master 11th September with Synonyms & Antonyms

Here are the synonyms and antonyms of all the difficult words in Hindu Vocab Master for 11th September 2024.