The Hindu Editorial Analysis : 2nd December 2022

Hindu Editorial Analysis

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.

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Mixed bag.

  • The latest official GDP estimate shows the economy’s expansion decelerated in the July-September period, dragged down by year on year and sequential contractions in manufacturing and mining and a broad slowdown in private consumption expenditure and government spending.
  • Gross domestic product is projected to have grown by 6.3% from the year earlier period,a sharp deceleration from the 13.5% expansion posted in the first quarter and July-September 2021s 8.4% pace.
  • On the gross value added(GVA) side, only three of the eight sectors agriculture ,the omnibus contact-intensive services sector of trade , hotels, transport and communications and financial ,realty and professional services– posted year on year acceleration in growth.
  • And five sectors including agriculture, electricity, water supply and other utility services and construction posted sequential contraction reflecting the heightened uncertainty that the global slowdown,the war in Ukraine and the persistently high domestic inflation have together endangered.
  • On the expenditure front, growth in both the consumption spending and government expenditure slowed appreciably ,with the former logging a 9.7% year on year expansion, compared with the first quarter growth of 25.9% and the later shrinking by 5.4% after expanding 1.3% in the April-June period.
  • However, sequentially private consumption signaled some festival-led rebound as it registered a tentative 1% growth, and a 3.4% quarter on quarter growth in gross fixed capital formation pointed to a growing willingness to invest on the part of private businesses.
  • Chief economic advisor V.Anantha Nageshwaran was empathetic that the economy’s recover from the disruption caused by the Covid-19 pandemic was well underway and, notwithstanding the global headwinds ,put the country on track to achieve 6.8% to 7% growth this fiscal.
  • Still, the challenge posed by data variability and revisions,which a top RBI policymaker recently fagged, is a crucial element that cannot be ignored and is best underscored by the fact that the ‘Discrepancies’ entry in the latest GDP estimates hit a nine-quarter high of 2.9%.
  • Also, the official core sector data for October, showing combined output across the eight key industries that include cement, coal, fertilizers, electricity and refinery products, struggled to inch its way up.
  • Policy makers can ill-afford to drop their guard as they battle to rein in growth-sapping inflation and must ensure that credit conditions remain supportive of the real economy.

Practice Questions:

  • What does the latest GDP estimate show?
  • GDP is projected to grow by what percent?
  • Why was the Chief economic advisor V.Anantha Nageshwaran empathetic?

Important Vocabs:

  • Sapping- to make somebody/something weaker; to destroy something gradually
  • Fiscal- connected with government or public money
  • Deceleration- reduction in speed or rate
  • Emphatic- said or expressed in a strong way
  • Tentative- uncertain

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