The Hindu Editorial Analysis : 18th November 2022

The Hindu Editorial Analysis:

The Hindu is now synonymous with civil services aspirants. What brought on this cult readership?

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.

The measuring trade

  • The government has quietly dropped the practice of releasing preliminary monthly merchandise trade estimates at the beginning of the month, and updating them two weeks later with quick estimates.
  • The foreign trade numbers for October 2022 and beyond will be released by the middle of the next month as was the practice till two years ago.
  • Perhaps the ideas of issuing early estimates for export and import shipments in late 2020 was driven by the need to have some more high frequency indicators for assessing the direction of the economy as it found its feet again after the battering from Covid-19 lockdowns.
  • While one cannot really say the pandemic is over yet, it is a sensible decision to now revert to the older systems when ‘quick’ estimates were released on the fifteenth day of each subsequent month, or earlier if that date happened to fall on a weekend.
  • The early estimates have emitted conflicting signals about the economy in recent months, thanks to sharp variations between the preliminary and quick estimates in the volume of trade and even the direction of exports growth.
  • Fir instance, the first data set for August suggested a 1.15% contraction in exports, the first such contraction since February 2021, while September’s numbers showed a 3.4% dip year on year.
  • Even as industry and economists read this is an omen of the global turnoil and slowdown coming home to hurt the Indian recovery engine, the quick estimates for both these months showed a 1.6% and 4.8% uptick, respectively, in outbound goods trade.
  • The difference in the two sets of numbers largely arises from the lack of electronic data interchange facilities at some ports, thus making it difficult to factor in such shipments into the first data set.
  • For March, it initially only released export numbers, and September’s preliminary data omitted the growth rate for India’s top 10 export, import items.
  • A consistent, comprehensive and transparent approch to releasing the economic data will also bolster the country’s credibility as a reliable alternative to China.

Practice Questions

  • What does the government has released recently?
  • What is the difference in two sets of numbers of electronic data?

Important Vocabs

  • Bolster- to support or encourage something/somebody
  • Uptick- a small increase or slight upward trend
  • Revert- to return to a former state or activity
  • Conflict- to fight or an argument
  • Omit- to not include something

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