Here we are with our next article based on current news which contains some difficult words, we will highlight and explain those words in order to improve your vocabulary skills and to have a good command on English language section. Hope this will help you with your preparation.
Article : A strategic exit
Source : http://gradestack.com
In declaring that he will not seek a second term after his first ends in September, Reserve Bank of India Governor Raghuram Rajan has chosen the best and mostdignified (अभिमानी) way out of a situation that was getting increasingly ugly. Over the last few months, his ‘extension’ became the subject of fevered (विह्वल)speculation as it became increasingly apparent (स्पष्ट) that sections within the Modi government were uncomfortable with his continuance. The complaints against Mr. Rajan varied — they included the relatively trifling (तुच्छ) (his choice of words and plain-speaking ways), the debatable (विवादास्पद) but substantive (his unwillingness to lower interest rates despite stable macro-economic indicators), and the indisputably (निर्विवाद रूप से) ridiculous (his alleged lack of commitment to India). The last, coupled with the Centre’s decision to form a search panel to select all financial sector regulators, could have nudged Mr. Rajan to rule himself out of the race two and a half months before his term ends. In doing so, he has saved the Centre from the possible repercussions (नतीजों) that a refusal to grant a second term could have had. After all, the RBI Governor has an enormous (विशाल) amount of credibility with international investors (the impact of his exit on foreign portfolio flows will be keenly watched), and he has earned himself the reputation of having skilfully managed the country’s currency, inflation and foreign exchange reserves in a faltering world economic climate.
On monetary policy, the Centre’s uneasiness stemmed (उपजी) from what it believed was an important reason for the economy not taking off as fast as it could have. The slow pace of interest rate cuts, a result of what Mr. Rajan saw as fresh or rising inflationary pressures, is on that list; but although the RBI has cut rates by 1.5 percentage points since 2015, private investments are still moribund. The central bank’s crackdown on the evergreening of loans, forcing banks to acknowledge bad loans rather than throw more good money after bad, has led to record losses across the public sector banking system. This has been another source of friction. By ruling himself out for a second term, Mr. Rajan has brought down the curtain on the unfortunate and unpleasant politics around his continuance. In choosing his successor, the Centre must remember that the central bank, by its very remit, is concerned about inflation and that the country needs a Governor with enough independence and authority to maintain a balance between the aspirations for growth and the concern about rising prices; it is also imperative that the new central bank chief has a free hand in charting (चार्टिंग) a course to fix banks’ books so that they can begin lending again. A rubber stamp for rate cuts won’t do, and it is not such a bad thing if a healthy tension exists between the Reserve Bank of India and the Finance Ministry. As Mr. Rajan himself once said, if the two always agreed, the public should be very worried.
Meaning of the words highlighted in the article
1.Dignified (adjective) – having or showing a composed or serious manner that is worthy of respect
Synonyms – stately, magisterial
Antonyms – dishonorable, unimpressive
Ex: The architectural style is dignified and pleasing in design and proportions.
2.Fevered (adjective)– having or showing the symptoms associated with a dangerously high temperature.
Synonyms – frenzied, intense
Antonyms – calm
Ex: He’d been fevered for a zillion years, trapped in the tiny cell in ever-changing forms, always in darkness.
3.Apparent (adjective) – clearly visible or understood, obvious
Synonyms – illusive, plausible
Antonyms – equivocal, improbable
Ex: Her father returned around noon, his agitation apparent the moment he stepped in the door.
4.Trifling (adjective) – unimportant or trivial
Synonyms – idle, negligible
Antonyms – effective, significant
Ex: To the Church he left little and to the pope only a trifling souvenir.
5.Debatable (adjective) – open to discussion or argument
Synonyms – problematical, uncertain
Antonyms – resolved, definite
Ex: Whether he actually wanted that one was debatable, but he certainly acted pleased with it.
6.Indisputably (adjective) – an artist of indisputable skill
Synonyms – presumably, unequivocally
Antonyms – indefinite, uncertain
Ex: It is indisputably legitimate to speak of Ultramontanism as a distinct policy, but it is very difficult to define its essential character.
7.Repercussions (noun) – an unintended consequence of an event or action, especially an unwelcome one
Synonyms – backlash, reverberation
Antonyms – cause
Ex: The repercussions of world events were seen on the stock market price.
8.Enormous (adjective) – very large in size, quantity, or extent
Synonyms – excessive, astronomic
Antonyms – insignificant, miniscule
Ex: The earth has an enormous molten core that contains vast amounts of energy.
9.Stemmed (verb) – originate in or be caused by
Synonyms – derive, emanate
Antonyms – abet, encourage
Ex: Overwhelmed by the armies of Alva and Requesens and stemmed the tide of Spanish victory.
10.Charting (verb) – make a map of (an area)
Synonyms – delineate, devise
Antonyms – neglect, disorganize
Ex: His most memorable work, however, was the inauguration of international operations for charting the heavens.
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