The Hindu Editorial Analysis : 21st May 2024

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.

Possibility of becoming the third largest economy

• According to Finance Commission chairperson Arvind Panagariya, India has possibilities to become the third largest economy across the world by 2026-27. If the pace of current growth remains the same, India could become the third largest economy.
• There is no doubt that India has eradicated extreme poverty, however, most of the workforce(45%) of India is still related to agriculture and it needs to be transferred into industry and services to achieve the transformation towards the growth of rural population of India.
• This 45% work force produces around 15% of GDP. To become the third largest economy India needs to inform its labor laws and invest more capital in agriculture related industries.
• We need to create and facilitate a way for transferring this work force into larger enterprises to achieve this target.
• According to him, currently in India the land per worker is too little to give a high average labor productivity, especially in agriculture.
• Moreover, very few industries are established in rural areas. This is also one of the major concerns towards the expected positive growth of India. If we have to urbanize the rural area we need to migrate rural workforce out of these habitations into the urban areas as per Arvind Panagariya.

Important Questions:

• Is it possible for India to become the 3rd largest economy by 2027?
• What are some challenges in front of India to achieve the target of becoming the third largest economy by 2027?

Important vocabs:

• Elitist- relating to or supporting the view that a society or system should be led by an elite.
• Delirious- in an acutely disturbed state of mind characterized by restlessness, illusions, and incoherence; affected by delirium.
• Augurs- (of an event or circumstance) portend a good or bad outcome.
• Allayed- diminish or put at rest (fear, suspicion, or worry).

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