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नवीनतम संदेश 5
2022-06-17 09:01:16
The Hindu Vocabulary | 17-06-2022
1 PROSCRIBE (VERB): forbid
Synonyms: prohibit, ban
Antonyms: ban
Example Sentence:
Strikes remained proscribed in the armed forces.
2. MAGNITUDE (NOUN): importance
Synonyms: import, significance
Antonyms: triviality
Example Sentence:
History has a lot of events of tragic magnitude.
3 EXPEDITIOUS (ADJECTIVE): speedy
Synonyms: swift, quick
Antonyms: slow
Example Sentence:
The murder investigation needs to get expeditious.
4. DREADFUL (ADJECTIVE): terrible
Synonyms: frightful, horrible
Antonyms: mild
Example Sentence:
He survived a dreadful accident.
5. CATASTROPHE (NOUN): disaster
Synonyms: calamity, cataclysm
Antonyms: salvation
Example Sentence:
Things may drag on perhaps till July, but then a catastrophe must could come.
6. MARGINAL (ADJECTIVE): slight
Synonyms: small, tiny
Antonyms: vast
Example Sentence:
It seems to make just marginal difference.
7. OVERWEENING (ADJECTIVE): overconfident
Synonyms: conceited, cocksure
Antonyms: modest
Example Sentence:
His modesty is nothing but a cover for his overweening conceit.
8. BURGEON (VERB): expand
Synonyms: shoot up, swell
Antonyms: shrink
Example Sentence:
The city's suburbs have burgeoned, sprawling out from the centre.
9 FOUNDER (VERB) : fail
Synonyms: fall through, fall flat
Antonyms: succeed
Example Sentence:
The talks foundered on the reform issue.
10. ACCEDE (VERB): accept
Synonyms: endorse, go along with
Antonyms: refuse
Example Sentence:
He did not accede to his child’s demands.
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2022-06-17 08:32:36
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2022-06-17 07:30:56
Current Affairs Quiz
Total 5 Questions
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2022-06-17 07:01:54
The Hindu Editorial
June 17, 2022
Race for relevance: On the Fed’s interest rate hike
The Fed’s hike can accelerate the exit of foreign portfolio investmentsThe U.S. Federal Reserve on Wednesday implemented its steepest interest rate increase in more than 27 years as it fights to rein in runaway inflation. Barely six weeks after raising the policy rate by half a percentage point and underscoring the likelihood of “additional 50-basis-point increases” at the next couple of meetings, Chairman Jerome Powell stressed it had become “essential” to increase the rate instead by 75 basis points to bring inflation down. The overarching message, he asserted, was that the Fed recognised the ‘hardship high inflation was causing’ and had the resolve to restore price stability with singular focus. Acknowledging that inflation had ‘surprised to the upside’ since the Federal Open Market Committee (FOMC) had last met in May, he said the committee agreed that the larger increase was required to anchor inflation expectations. With U.S. Consumer Price Index based inflation quickening to a fresh four-decade high of 8.6% in May, spurred by housing, petrol and food prices, the Fed admitted that price pressures had spread to a broad range of goods and services. Even as it realises that it has very little control over supply side factors, including Russia’s invasion of Ukraine and COVID-related lockdowns in China, the U.S. central bank said it was determined to continue raising interest rates till it saw ‘compelling evidence’ that inflation was slowing towards its 2% goal. Mr. Powell emphasised that yet another ‘unusually large’ 75-basis-point or a 50-basis-point increase was ‘most likely’ in the meeting in July.
For Mr. Powell and fellow FOMC members, focusing unrelentingly on taming price gains through monetary action, including raising borrowing costs and gradually tightening liquidity, risks squeezing the economy into a recession. It is also a scenario mirrored earlier this month in forecasts by almost 70% of academic economists, polled by the Financial Times and the University of Chicago, who foresee the U.S. economy shrinking in 2023. The Fed recognises that the tighter financial conditions have tempered demand, even as it posits that real GDP growth has rebounded on strong consumption spending. Mr. Powell, who had in May underlined that the Fed would not hesitate to move policy to ‘restrictive’ levels if needed, on Wednesday flagged the reductions in the FOMC’s median projections for growth. Central bankers now see the U.S. economy expanding by 1.7% both in 2022 and 2023, slower than the March forecasts of 2.8% and 2.2%, respectively. For India, the Fed’s actions are likely to result in an acceleration in the recent exodus of foreign portfolio investments, spur more gains for the dollar against the rupee thus widening the trade deficit, and also fuel faster inflation as imported goods, including crude oil, become costlier.
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2022-06-17 07:01:01
The Hindu Editorial
June 17, 2022
Waiting for jobs: On Centre’s plan to recruit 10 lakh personnel in 18 months
The Centre’s decision to recruit personnel to fill vacancies is a nod to the festering unemployment issueFor a nation that has had a significant demographic dividend — the working age population is much larger than the non-working age sections — finding productive employment for its youth was to be an imperative for India. Yet, in the last few years, unemployment has remained a major concern — the leaked Periodic Labour Force Survey (PLFS) in 2018 revealed that India’s unemployment rate was the highest (6.07%) in four decades. The latest PLFS suggests that the numbers now are not so drastic, with the overall unemployment rate at 4.2% in 2020-21 compared to 4.8% in 2019-20 and the labour force participation rate (LFPR) increasing to 41.6%, up from 40.1% in 2019-20. In terms of the more widely used statistic internationally, the current weekly status of unemployment, the figure of 7.5% for all persons in 2020-21 is still worrying. But, the PLFS data will not bring much cheer to the Government despite a decrease in unemployment, according to official data. This is because the decrease, says the PLFS, has also coincided with the transfer of employment into lower productive and unpaid jobs away from salaried employment. Worryingly, industrial jobs have decreased with more employment in agricultural and farm-related jobs — a trend that accelerated following the lockdown and has not reversed since then. Unemployment rates among the educated (above secondary education — 9.1%) and the youth (age between 15-29 — 12.9%) have only declined marginally.
Wage rates have continued to remain lower for those employed in either salaried jobs or self-employed compared to the pre-pandemic period, with the increases being marginal in the year following lockdown-driven days of the pandemic. It is clear that the Government must tackle unemployment and, concomitantly, the quality of employment issue, on a war footing. In this regard, Prime Minister Narendra Modi’s announcement that the Government will be recruiting 10 lakh personnel within the next 18 months (vacancies in the Railways, the armed forces and GST departments among others) should be seen as a step in the right direction. The latest data showed that there were 8.86 lakh vacant jobs among all central government civilian posts as of March 2020. Mr. Modi’s announcement was not about the creation of a large chunk of new jobs; the bulk of the promised employment is to fill up vacancies. But even this measure would be ameliorative in the real economy that continues to remain distressed, a consequence of the BJP-led government’s mismanagement and the effects of the pandemic in the last few years. The country cannot afford to squander more years in its race to reap the benefits of its demographic dividend, and the push to provide jobs for those seeking to enter the labour force, even if belated, will help ease matters for the medium term.
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2022-06-16 15:32:02
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