{"id":84196,"date":"2024-04-04T11:45:35","date_gmt":"2024-04-04T06:15:35","guid":{"rendered":"https:\/\/www.practicemock.com\/blog\/?p=84196"},"modified":"2024-04-04T11:49:17","modified_gmt":"2024-04-04T06:19:17","slug":"the-hindu-editorial-vocabulary-4th-april-2024","status":"publish","type":"post","link":"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-4th-april-2024\/","title":{"rendered":"The Hindu Editorial Vocabulary 4th April 2024"},"content":{"rendered":"
Home<\/a><\/span> \u00bb Vocabulary<\/a><\/span> \u00bb The Hindu Editorial Vocabulary 4th April 2024<\/span><\/span><\/div>\n\n\n

Read The Hindu Editorial Vocabulary 4th April 2024 to improve your word power. Candidates focus on learning new words regularly. We have covered a list of difficult words with contextual meanings in The Hindu Editorial Vocabulary 4th April 2024.<\/p>\n\n\n\n

The Hindu Vocab On Borrowings & Kerala\u2019s Suit<\/h1>\n\n\n\n

Kerala\u2019s suit raises questions on States\u2019 right to borrow and the Centre\u2019s power to limit it\u00a0<\/h3>\n\n\n\n

The\u00a0Supreme Court of India order\u00a0referring\u00a0a suit filed by Kerala, challenging the Centre\u2019s decisions curtailing its borrowings<\/strong> (to get or receive something from someone with the intention of giving it back after a period of time)<\/strong>, to a Constitution (the set of political principles by which a state or organization is governed, especially in relation to the rights of the people it governs<\/strong>) <\/strong>Bench is a welcome development. The\u00a0Court declined to grant an interim (temporary and intended to be used or accepted until something permanent exists<\/strong>) <\/strong>order\u00a0to restore the position prior to the imposition (a situation in which someone expects another person to do something that they do not want to do or that is not convenient<\/strong>) <\/strong>of borrowing limits by the Centre, but the referral will give a larger Bench an opportunity to examine the extent to which the Union government may regulate a State\u2019s borrowings. The litigation (the process of taking a case to a court of law so that a judgment can be made<\/strong>) <\/strong>is much more than a tussle over the Centre\u2019s charge of fiscal mismanagement (the process of organizing or controlling something badly<\/strong>) <\/strong>against the Left Front regime<\/strong> (a particular government or a system or method of government)<\/strong> in the State. The Court has recognised that it is also a constitutional question on Centre-State relations: an apparent (able to be seen or understood<\/strong>) <\/strong>conflict between efforts to maintain the country\u2019s fiscal health on the one hand and moves that undermine (to make someone less confident, less powerful, or less likely to succeed, or to make something weaker, often gradually<\/strong>) <\/strong>the fiscal space of States on the other. At the heart of this dispute is Article 293, which confers executive power on the States to borrow money within limits prescribed by the State legislature. It also allows the Union to extend (to add to something in order to make it bigger or longer) <\/strong>loans and guarantees to the States, and requires the Centre to give its consent and impose conditions for States to raise further loans while earlier ones are outstanding. Kerala contends that the Article does not confer on the Centre any power to regulate all State loans and that it can impose conditions only on borrowings from the Centre.<\/p>\n\n\n\n

Kerala also challenges the Union\u2019s decision to include borrowings by State-owned enterprises and the liabilities on its public account under its \u2018Net Borrowing Ceiling\u2019 (quantified as 3% of its projected Gross State Domestic Product for 2023-24, or \u20b932,442 crore). A 2018\u00a0amendment to the Fiscal<\/strong> (connected with (public) money)<\/strong>Responsibility and Budget Management Act\u00a0capped the \u2018general government debt\u2019, or the sum total of the debts<\/strong> (something, especially money, that is owed to someone else, or the state of owing something) <\/strong>of the Central and State governments, at 60% of the GDP. The Union government argues that public finance being a national issue, it wanted to prevent the use of off-budget borrowings to bypass the borrowing ceiling. It also claims that unlimited borrowing by State governments will have the spillover effect of raising the cost of borrowing and crowding out private sector borrowers. The issue comes at a time when the current formula for distribution of revenue is seen as one that penalises States that perform better on social indicators. It is no surprise that Kerala, a topper in social advancement, faces this crisis. In an era in which a major revenue source for the States has been subsumed by a system in which they share the proceeds of a common Goods and Services Tax with the Centre, fiscal space has become precious<\/strong> (of great value because of being rare, expensive, or important)<\/strong>. It is now up to the highest court to determine how strict the Centre should be on borrowing limits and giving consent to hold States to their fiscal obligations (the fact that you are obliged to do something<\/strong>) <\/strong>without violating (to break or act against something, especially a law, agreement, principle, or something that should be treated with respect<\/strong>) federal norms.<\/p>\n\n\n\n

The Hindu Editorial Vocabulary Wordlist 4th April 2024<\/h2>\n\n\n\n

Do you want to learn new words? Follow The Hindu Editorial Vocabulary 4th April 2024 for contextual meanings of difficult words<\/p>\n\n\n\n