Newspaper Editorials with Hindi Vocab 24/12/2015

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The Times of India:Winter Washout

Parliament logjam  कठिनाई  and political failure to pass GST Bill will cost India dear  उँची कीमत में

After a month of political gridlock गतिरोध, Parliament's winter session has ended with Rajya Sabha passing five bills and Lok Sabha passing 11. Eight new bills were also introduced in Lok Sabha, including a much-needed legislation on insolvency  

दिवालियापन  and bankruptcy  दिवाला  .Yet, the sad fact is that parliamentary work done over the past month pales सहपाठी in comparison with the to-do list the winter session started out with on November 27: eight pending bills before Lok Sabha and 59 before Rajya Sabha at the time.

This session will go down in Indian parliamentary history as yet another wasted opportunity , with the taxpayer as always footing आधार  the bill. In a session that was continuously disrupted बाधित by the opposition, first over allegations अभियोग of a political witch  चुड़ैल hunt शिकार against the Gandhi family and selective bias  पूर्वग्रह of prosecution अभियोग in states and then over the Jaitley Kejriwal face-off  सामना करना, not much got done.

Crucial अत्यंत महत्वपूर्ण legislation कानून  such as the all-important GST Bill did not pass, making it almost certain that we will now miss the April 2016 deadline for GST implementation  अमल . This is a major reform measure, first initiated by UPA, on which there is now broad political consensus सर्वसम्मति . Yet, the politics of obstruction  रुकावट  has ensured सुनिश्चित करना that its fate  तक़दीर is still uncertain even as another Parliament session has gone by . Public outrage  नाराज़ होना over the juvenile नाबालिग व्यक्ति convict अपराधी  in the Nirbhaya rape case walking free did force MPs to pass the new legislation that will now make it possible to try over-16 offenders अपराधी in heinous  घृणित crimes as adults. Yet, this was a one-offएकबारगी. An all-party meeting chaired by Vice President Hamid Ansari ensured that some business was transacted in the Upper House in the last three days. But this is not enough. Every minute of parliamentary time costs the tax-payer Rs 29,000 and each day wasted amounts to a loss of Rs 2 crore.

It is true that BJP too took the obstructionist अवरोधक path when UPA was in power, including on the critical GST Bill, so it is being paid back in the same coin. However, it is time for political parties to find a way of transacting crucial business and not holding Parliament hostage  बंधक. As we head into 2016 and the budget session, this is crucial. Otherwise, with a political storm gathering  सम्मेलन  over the DDCA allegationsअभियोग and renewed opposition re-alignments after the Bihar elections, we will only see more of paralysis  निर्बलता and wasted economic opportunities next year.

The Economic Times:Don't Fall for the Cheap Oil Slick

Tank up on a medium-term plan

Oil's not well. The steady नियमित drop in global crude oil prices points to weak demand conditions that will dampen उत्साहहीन करना prices right across the board. This, in turn, may stymie  गतिरोध growth prospects  संभावना going forward. Analysts expect crude prices to fall to as low as $20 per barrel. The latest available price quote for Indian basket crude is $33 per barrel. The government needs to chalk out  रूपरेखा प्रस्तुत करना a medium-term plan to tackle  सामना करना the scenario of sticky oil prices and its macroeconomic fallout  घाटा of declining nominal  बहुत मामूली GDP growth and output.

The Centre has, rightly , hiked  वृद्धि  taxes and duties on oil products even as retail prices have softened नरमी आ जाना. The move has led to buoyant  प्रसन्नचित्त indirect tax collections this fiscal. The lower prices of petro-goods like diesel and petrol have meant an additional boost to consumption expenditure.The Mid-Year Review estimates the additional boost  प्रोत्साहन the economy has received is 1-1.5% percentage points of GDP . Looking ahead, the upside on this score is likely to be limited even with continued softness in oil prices. Private consumption, after all, can shore up the economic momentum  गति only so much and no further. Also, weaker oil and commodity prices would mean lower realisations  आभास , margins and prices across the economy . Besides के अतिरिक्त भी, much easier oil prices would affect revenues of oil producers and likely put further pressure on our export growth. The review, though, seems more sanguine  उत्साही on exports. Sure, in statistical terms, exports may start to look up after declining for an entire year. But a weak global economy is unlikely to rev up पुनर्निर्माण करना export demand soon.

Private corporate investment in India also appears to be falling (as a percentage of GDP). The way forward is to step up government investment, and proactively अग्रसक्रिय rationalise  पुनर्गठन करना and phase out continuing oil subsidies on products like kerosene and cooking gas. The exchequer would save almost ` . 50,000 crore annually . Now that the biometric Aadhaar card roll out  बेलना seems to have countrywide  देशव्यापी coverage, we need to opt for direct benefit transfers for the poor on account of LPG cylinders. Solar lanterns must substitute sooty  मैला kerosene.

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