The Hindu Editorial Analysis : 22rd October 2023

The Hindu Editorial Analysis

The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.

Downhill driving.

• After hitting a record $775 billion in 2022- 23, India’s exports are off to a rocky start this year. Outbound shipments of goods, that had crossed $450 billion last year, have contracted 15.1% through the April to June 2023 quarter.
• June’s provisional export tally, just shy of $33 billion, was the lowest figure in eight months and reflected a 22% drop year on year, a scale of contraction last seen amid the initial months of the COVID-19 lockdowns.
• There has been a decline in the import bill as well over the first quarter, albeit at a slower pace than exports.
• This 12.7% dip is largely driven by the prevalence of lower commodity prices this year compared to the same quarter last year, when the import bill had shown up 44.5% after the Russia Ukraine conflict in Europe .
• Excluding gold and oil imports, the value of shipments coming into the country is down 10.5% in the first quarter.
• Sequentially, the decline in non-oil, non-gold imports has accelerated from 2% in May to 16.7% in June, indicating that domestic demand triggers are also ebbing.
• While this implies the goods trade deficit may not widen as it had last year, it does not augur well for domestic growth impulses that form India’s key armor against the gathering global slowdown.
• Services esports are still growing but at a far more somber pace. That IT majors, who drive most of these intangible exports, have been tentative and decidedly downcast about their earnings guidance for this year, indicates the tide may get worse.
• Frail global demand may not just impact trade flows but also hurt foreign direct investments even as tightening monetary policies could exacerbate financial market volatility.
• As the Finance Ministry noted recently, if these trends deepen, the 6.5% growth hopes for the year could wobble.
• But retail sales in the UK. have improved in June, although fractionally.
• Treasury Secretary Janet Yellen has exuded confidence that a recession in the world’s largest economy may be averted after all. Inflation numbers have eased in Europe and the US, triggering hopes of interest rate pauses instead of further tightening to throttle demand and activity.
• While driving on the hills, one has to prioritize the movement of vehicles climbing up, even if that means reversing a descending automobile up to a point of safe passage.
• Within the overall downhill trend of exports, the few bright spots such as rising shipments of electronic goods must flourish while trade curbs or obstacles affecting other products must be reviewed.
• Indian policymakers should redouble efforts to improve competitiveness against rivals such as Vietnam, and keep a closer watch on divergent trends in different markets to help exporters capture incre mental, even if fractional, global demand.

Practice Questions:

• How has the decline in non-oil, non-gold imports accelerated from 2% in May to 16.7% in June?
• Indian policymakers should redouble efforts to improve competitiveness against rivals.Comment

Important Vocabs:

• Rationalize- find reasons that explain why you have done something
• Implicate– to show that somebody is involved in something unpleasant
• Ambit-the scope, extent, or bounds of something.
• Consumptive– affected with a wasting disease
• Curtail– to make something shorter or smaller

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