The Hindu Editorial Vocabulary 19th July 2024

The Hindu Editorial Vocabulary 19th July 2024 is an effective tool for learning new words and their contextual meanings regularly. Candidates can get this resource for free to improve their vocabulary knowledge preparing for government exams.

Hindu Editorial Vocab On India’s Trade Policy

India’s goods exports rose for the third successive (happening one after the other without any break) month this June, growing 2.55% to $35.2 billion. Imports grew 5% to $56.2 billion, receding from May’s seven-month peak of nearly $62 billion. The trade deficit, despite rising 9.4% from last June, has cooled slightly from the previous month. The oil deficit, which had hit a record $13 billion in May, remains a worry despite narrowing to $10 billion. Petroleum exports fell 18.3% to $5.5 billion, and were below May’s tally by almost the same extent. With oil prices virtually unchanged over the last two months, this signals a drop in export (to send goods to another country for sale) volumes, just as a sharper 19.6% rise in June’s oil imports suggests a domestic demand spike. Overall oil imports have risen over 23% in the April to June quarter, with global prices about 9% higher than a year ago. The oil deficit accounts for almost half of the first quarter trade deficit (the total amount by which money spent is more than money received, or the state of having spent more money than has been received) of $62 billion in the first quarter, which is 10.9% over that of last year.

The value of gold imports fell 38.7% in June to $3.06 billion, the lowest so far in 2024-25. But silver imports, which have been rising sharply, jumped 377% in June. The government must investigate (to examine something carefully, esp. to discover the truth about it) concerns about disruptions (the action of preventing something, especially a system, process, or event, from continuing as usual or as expected) in India’s bullion market due to concessional duty imports through the GIFT City under the free trade pact with the United Arab Emirates. Alongside, a sustained (continuing at a particular level for a period of time) decline in India’s gems and jewellery exports, which contracted for the seventh successive month in June, needs attention. The import bill, beyond oil and gold, has risen about 3% so far this year, from a 10% dip in the same quarter last year, with growth accelerating (becoming faster) to 7% in June, indicating a recovery in discretionary (able to be decided by a particular person or group, rather than being controlled by rules, or relating to the power to make these decisions) domestic demand — a good omen for the economy. India’s trade policy focus must stay on boosting exports rather than checking the deficit which has been termed a natural corollary of growing faster than the world. It is notable that at least 19 of India’s top 30 export sectors have grown over May and June, from just 13 in April. Waning global inflation, and likely interest rate cuts can fuel demand, and the International Monetary Fund has raised its trade volume growth hopes to 3% in 2024 from 0.3% last year. For exporters to fully tap this opportunity after a rough year, and create more jobs in the process, the Centre must provide adequate (enough or satisfactory for a particular purpose) resources as well as certainty for the sector, be it for the duty remission (a period of time when an illness is less severe or is not affecting someone) scheme or the interest equalisation scheme. Sudden policy shifts such as the recent scrapping of the latter scheme for all exporters, except for smaller firms (which have been promised support for only two more months), are certainly avoidable.

Hindu Vocab Wordlist 19th July 2024

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• Successive: Happening one after the other without any break.
• Export: To send goods to another country for sale.
• Deficit: The total amount by which money spent is more than money received, or the state of having spent more money than has been received.
• Investigate: To examine something carefully, esp. to discover the truth about it.
• Disruptions: The action of preventing something, especially a system, process, or event, from continuing as usual or as expected.
• Sustained: Continuing at a particular level for a period of time.
• Accelerating: Becoming faster.
• Discretionary: Able to be decided by a particular person or group, rather than being controlled by rules, or relating to the power to make these decisions.
• Adequate: Enough or satisfactory for a particular purpose.
• Remission: A period of time when an illness is less severe or is not affecting someone.

Hindu Vocab Master 19th July with Synonyms & Antonyms

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