The Hindu Editorial Vocabulary 26th August 2024

The Hindu Editorial Vocabulary 26th August 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

The Centre has restored (to return something or someone to an earlier good condition or position) guaranteed pensions for its employees, meeting their demand halfway, and weakly trying to hold on to principles of fiscal prudence (behaviour that is careful and avoids risks:). Pension schemes around the world, whether contributory and market-linked or underwritten by the exchequer, are facing a crisis, due to multiple factors, including demographic reasons. According to the Reserve Bank of India, the total Budget estimates of various States and Union Territories for pension in 2023-24 was ₹5,22,105.4 crore, which is between 6%-21% of their total revenue receipts. Pensioners argue that it is their deferred wages. It can also be argued (to speak angrily to someone, telling that person that you disagree with them) that pensions from the exchequer are at the cost of future generations. Governments are outsourcing jobs through contracts, and resorting to innovations( a new idea or method) such as Agnipath — a short service scheme for the military services — and the ballooning of pension bills is among the reasons that drive such measures. Governments are also leaving posts unfilled. All such measures are leading to two things. First, it negatively affects state capacity, and second, it reduces avenues for government and public sector jobs for India’s expanding number of young job seekers. The New Pension Scheme (NPS), which was market-linked and managed by an autonomous(independent and having the power to make your own decisions) entity, was introduced during the stock market boom. Two decades (a period of ten years, especially a period such as 2010 to 2019) later, when people began retiring under the NPS — those who joined after January 1, 2004 — it turned out that they were receiving much less than what they would have got under the old scheme.

With the Congress making the restoration of the old scheme a central piece of its politics, the BJP was pushed to the corner. A committee led by former Finance Secretary and Cabinet Secretary (someone who works in an office, writing letters, making phone calls, and arranging meetings for a person or for an organization)-designate T.V. devised a middle path that involves employee contributions and enhanced share from the Centre. The Unified Pension Scheme (UPS), approved by the Cabinet, promises a pension of 50% of the average basic pay of the last 12 months before retirement and a minimum pension of ₹10,000 for those who worked for at least 10 years. The Centre’s share towards the scheme was increased from 14% under the NPS to 18.5%, which Prime Minister Narendra Modi has said will ensure government employees dignity and financial security. The BJP and the government should note that no reform can be sustainable (able to continue over a period of time) without broad political consensus. Social security for older people must cover the widest segment of the population. Government employees are an organised pressure group, and having managed to restore their guaranteed pension, they should wholeheartedly welcome the UPS, rather than protest against employee contribution.

Hindu Vocab Wordlist 26th August 2024

Upskill yourself and enhance your vocabulary knowledge. Candidates should begin learning new words daily with Hindu Editorial Vocabulary on 26th August 2024.

Restored: To return something or someone to an earlier good condition or position

Prudence: Bhaviour that is careful and avoids risks:

Argued: To speak angrily to someone, telling that person that you disagree with them

Innovations: A new idea or method

Autonomous: Independent and having the power to make your own decisions

Secretary: Someone who works in an office, writing letters, making phone calls, and arranging meetings for a person or for an organization

Decades: A period of ten years, especially a period such as 2010 to 2019

Sustainable: Able to continue over a period of time

Hindu Vocab Master 26th with Synonyms & Antonyms

Know synonyms and antonyms of difficult words in Hindu Vocab Master on 26th August 2024.

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