The Hindu Editorial Vocabulary 5th September 2024

The Hindu Editorial Vocabulary 5th 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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Trading up: On the World Bank’s India Development Update

-The World Bank’s growth prognosis for India moots some policy shifts

In its latest India Development Update, the World Bank has raised its 2024-25 GDP growth forecast for the economy to 7%, from 6.6% estimated earlier this year. The projection is now in sync with predictions from the International Monetary Fund and Asian Development Bank, but a tad lower than the 7.2% uptick (a small increase) projected by the RBI and Fitch Ratings. Earlier growth hopes for India were slightly modest, partly due to its strong 8.2% growth last year, and prospects of the global economy staying weak due to restrictive monetary policies and persistent geopolitical tensions. The World Bank estimates global growth to be the same as last year’s 2.6% pace, way below pre-pandemic levels. Despite this subdued (weakened or less intense) external environment and the dissipation (the gradual disappearance or reduction) of post-COVID-19 rebound effects, the Bank’s economists now expect India’s growth to remain strong this year at 7%. However, external risks could cloud this, including pressures on supply chains and commodity prices, and a resurgence (an increase or revival after a period of inactivity) of inflation that could compel central banks to hold interest rates ‘higher for longer’.

The Bank expects private consumption to rise 5.7% and the farm sector to grow 4.1% this year, from last year’s anaemic (weak or lacking vitality) trends. A recovery in farms could offset a slight moderation (meaning: the process of becoming less extreme) in industrial growth, and revive weak rural demand and help bolster (meaning: to support or strengthen) private investment in the medium term, with GDP growth expected to hover in the 6.5%-6.7% range in coming years. On India’s imperative (of vital importance) to generate non-farm jobs, the Bank acknowledged ideas such as the Production Linked Incentive schemes to support private manufacturing investments, and the new Employment-Linked Incentives. But these may not be able to generate the scale of activity India needs to engage its young workforce. The Bank has emphasised the need for a rethink (reconsideration) on India’s approach to a critical growth engine — trade. India’s global trade share does not match its economy’s size, and it is yet to capitalise (meaning: take advantage of) on the opportunity presented by China’s withdrawal from labour-intensive production or the much-vaunted (highly praised or boasted about) ‘China plus one’ global reset. A concern is a decline in export-related jobs over the past decade, flagged by the Bank, coinciding with a shift towards capital- and skill-intensive exports. While trade facilitation steps and the pursuit (the action of following or chasing something) of free trade agreements are commendable, some like the one with EFTA have limited potential, it noted. Progress has been hampered by new barriers to goods, services and investments, and it has called for a new strategic trade plan that reduces tariffs, non-tariff barriers as well as FDI curbs, and a rethink of the reluctance (unwillingness) towards multilateral/plurilateral pacts such as the RCEP. Policymakers must heed this prescription (a recommended course of action) in earnest, and urgently.

Hindu Vocab Wordlist 5th September 2024

Upskill yourself and enhance your vocabulary knowledge. Candidates should begin learning new words daily with Hindu Editorial Vocabulary on 5th September 2024.

• Uptick: a small increase or improvement in the number or level of something.
• Subdued: not very bright, loud, or noticeable, or not as strong as usual.
• Dissipation: the process of gradually disappearing or becoming less.
• Resurgence: a new increase of activity or interest in a particular subject or idea that had been forgotten for some time.
• Anaemic: lacking force, power, or spirit.
• Moderation: the quality of doing something within reasonable limits.
• Bolster: to support or improve something or make it stronger.
• Imperative: extremely important or urgent.
• Rethink: to think again about a plan, idea, or system in order to change or improve it.
• Capitalize: to use a situation to your own advantage.
• Vaunted: praised too frequently or excessively.
• Pursuit: the act of trying to achieve a plan, activity, or situation, usually over a long period of time.
• Reluctance: an unwillingness to do something.
• Prescription: a piece of advice or a recommendation for action.

Hindu Vocab Master 5th September with Synonyms & Antonyms

Here are the synonyms and antonyms of all the difficult words in Hindu Vocab Master for 4th September 2024.