Newspaper Editorials with hindi vocab 17/12/2015

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The Times of India (Ahmedabad):Fresh Answers

Air pollution threatens धमकी देना many Indian cities, policy must respond to the specific challenges of each Desperate  निराशाजनक anti-pollution measures have been announced in Delhi, choking घिग्घी on dangerous, particulate-laden air.

 The state government's plans include odd-even restriction on private cars, a move to shut down बंद करना polluting power plants, fast-tracking शीघ्रपथ​ the move to higher emission उत्सर्जन standards स्तर , and the imposition लगाना of environment compensation  हरजाना,  मुआवज़ा  penaltiesजुर्माना  on construction projects causing dust pollution. The Supreme Court has now banned the registration of diesel SUVs and large cars with engine capacities of 2000 cc or more, in the entire national capital region, until March. It has also banned the entry of trucks that pass through the city , and imposed higher charges on Delhi-bound ones कोई. This focus on diesel exhaust बुरी तरह थका देना fumes  भभक  is welcome, given that they emit छोड़ना harmful nitrogen oxides,are particularly dangerous when engines are idling निष्क्रियता, and have been classified as definite carcinogens  कैंसरकारी तत्व. But rather than desperate  आशाहीन moves such as banning vehicles of a particular class, sustainable लंबे समय तक चल सकने वाला only in the short term and easy to game, it would be much better to equalise diesel and petrol prices and thus permanently reduce incentivesप्रोत्साहन for diesel use.

The question is what to prioritise.

Delhi may receive disproportionate असंगत attention because it has more monito ring stations than other cities, but much of urban north India is alar mingly polluted. In its study of PM 2.5 levels, WHO has estimated that 13 out of the world's 20 most polluted cities are in India. Air pollution is a common, but differentiated भेद-भाव करना problem across India. There simply isn't enough real-time monitoring or area-specific, accurate data from these towns, which could then become the basis for policy .

Delhi's own odd-even road rationing scheme has been criticised by many for being a knee-jerk बिना सोचे decision rather than one calculated to bring down pollution. A study by IIT Kanpur suggested that road-dust, truck and two-wheeler emissions cause more pollution. Biomass fires and stubble-burning from faraway  बहुत दूर fields also worsen और बिगड़ जाना the problem in Delhi.

All these will have to be comprehensively विस्तार से tackled  सामना करना, to make a difference to air quality. The AAP government's odd-even scheme is meant to temporarily improve the air and also to draw attention to the public health emergency that pollution has become, but we must go beyond this. Public transport must be improved across Indian cities on a war footing and pollution boards across India must take concerted action, designing policy according to the specific hazards in each area. They must prioritise action that has maximal impact and minimal inconvenience  असुविधा.

The Economic Times (Mumbai):Trust is What'll Bond India to the World

What is it that India lacks कमी के कारण for it to not have a market for bonds?Compared to equities, the global market for bonds is gigantic  भीमकाय.The numbers are mind-boggling विलक्षण: around $90 trillion is traded in bonds. Around $60 trillion is traded in stocks. Globally , giant  विशाल profits and losses are made by bond traders, who ski on the thin ice of bond yields and returns. Yet, this is the world's largest financial market. Nothing comes close to debt. Because that is exactly what the bond market is: the debt of governments -think of US Treasury Bills -and companies that rule the world. Japanese debt  कर्ज  or Chinese surpluses अतिरिक्त can be traded in this market and traders, playing on tiny  बहुत छोटा margins लाभ, will nevertheless हालाँकि make a fortune भाग्य  in this `fixed income' market. This is a place where the debt of nations and corporations is traded and played off against each other. But in India, the bond market is puny कमजोर , almost non-existent. Why?

There are two explanations. The market for government debt is tiny and restricted to very few players. This can, and must, change. The RBI, which handles government debt, will have to open up to a broader विस्तृत भाग market than it now does. But that will not be all. The fundamental आधार , underlying अंतर्निहित agency of any debt market is trust.

This is something that is absent from vast  असंख्य swathes  लपेटना of India Inc. Corporate India is badly indebted आभारी and there is no guarantee how the money will be paid back. In the absence of such a guarantee -to repay loans -the corporate debt market will never take off. So, there is one thing we can do to create a vibrant  जोशपूर्ण debt market here: build trust. Between lenders and borrowers, historically, trust matters. From Florence in the 16th century to Bengal in the 18th, we have learnt one thing. Trust is the basis of capitalism पूंजीवाद. Without it, we are done for. And there will be no bond market.

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