The Hindu Editorial Analysis:
We all are aware of the importance of reading The Hindu newspaper with the aspect of improving reading ability, easily comprehending paragraphs, getting updated with the current events, improving essay writing and many more. For a banking aspirant it becomes necessary to read editorials for vocabulary. In this article we are going to discuss the points of today’s editorials with practice questions and important vocabs.
Winter is coming
- The International Monetary Fund(IMF),in its latest world economic outlook report,has retained global growth hopes for 2022 at 3.2%,and lowered next year’s projection from 2.9% to 2.7%.
- The year 2023 will feel like recession for many people in the world.
- The fund has been cautioned as the ‘worst yet to come’ amid tighter monetary policies to curb stubbornly high inflation and a spiralling energy and food crisis.
- While it retained India’s 2023-24 growth estimate at 6.8% from 7.4% in July.
- It becomes the second significant estimate after the World Bank’s estimation 6.5% that pegs India’s GDP rise below 7% which the RBI is expecting this year.
- The downfall is attributed to weaker than expected outturn in the second quarter.
- The prognosis is backed by the slow growth in tax collections, industrial output and exports.
- The fiscal,financial policy and monetary risks have risen sharply amid high uncertainty and the fund has emphasised.
- The IMF expects India to become the fastest growing major economy in the world after losing the tag to Saudi Arabia .
- But private forecasters such as Nomura believe policy makers’ optimism about 2023-24 prospects may be misplaced as the global downturns ripple effects may be underestimated, growth could well slip to 5.2%.
- Relative prosperity compare to the world will not suffice
- India should not only grow significantly faster than its faltering pre-pandemic trajectory but also deliver better quality growth that is inclusive and meets the inspiration of millions of its youth who constitute its demographic dividend.
- India’s low per capita income ,the sustained surge in prices has hit most households’ spending capacity and could even cramp their ability to invest in the next generation’s education.
- The Government has begun work on Budget 2023-24,but the second half of this year still needs to be navigated deftly.
- What the private forecasters optimised for the year 2023-24?
- What does the latest report of the International Monetary Fund say?
- What does the IMF expect India to be?
- What has the fund cautioned ?
- Deftly- in a dexterous or nimble manner.
- Faltering- to become weak or move in a way that is not steady.
- Trajectory- the curved path of an object that has been fired.
- Suffice- to be enough for something or somebody.
- Prognosis- a judgement about how something is likely to develop in the future.
- Fiscal-related to government or public money.
- Stubborn- not wanting to do something that other people want you to do.
- Amid- surrounded by or in the middle of.
- Ripple-a very small wave or movement on the surface of water.