Newspaper Editorials With Hindi Vocab 22/1/2016

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The Times of India: It's The Lynchpin सर्वाधिक महत्वपूर्ण व्यक्ति

92% of Indian adults have Aadhaar, but where's its legislative वैधानिक framework  संरचना?

A month after Chennai was battered  क्षतिग्रस्त  by a flood बाढ़ आना, victims पीड़ित were in for a pleasant  मनोहर  surprise. About 1.4 million people received Rs 700 crore as flood relief through में से  banks in what may have been the quickest and most transparent  पारदर्शी transfer in India after a calamity विपत्ति .This example, when juxtaposed  पास-पास रखना with the spread of Aadhaar coverage to 92% of India's adult population, should push NDA to get its act together quickly. Aadhaar's rich potential needs to be supported by an appropriate legislative framework, which should be on the government's priority  प्राथमिकता list for the budget session of Parliament.

{our indian economy is 2-3 trillion, dont go on figure,its fake #teamEverydayquiz}
About Rs 6.3 trillion, or 4.2% of GDP , is spent every year on subsidies by all layers of government. But the extent of subsidies which actually reach intended उद्धिष्ट  beneficiaries is anybody's guess because a lot of vulnerable कमजोर  people in India find it difficult to get the paperwork mandated जनादेश to prove their identity . Aadhaar, a digital identification system, overcomes  काबु पाना most of these problems. Its provision प्रावधान  of a verifiable सत्यापनीय  identity from any location opens up access to a number of public and private services for people. Opportunities multiply for individuals. For government, it gives a chance to enhance  बढ़ाना  the welfare system by eliminating  निकालना wastage and reaching the right person.
Aadhaar is part of a package of measures to enhance governance which is undergirdedसशक्त करना by communications technology . It comes with challenges which need to be tackled  सामना करना through appropriate legislation among other things. Yet NDA has shown extreme casualness  अनियमितता about such legislation. It is over five years since the previous government introduced a bill, deemed  अनुमान करना unsatisfactory  असन्तोषजनक by BJP , to provide a legislative framework. This bill subsequently made no progress. Given Aadhaar's potential  संभावना, Modi government's support for it and questions raised  स्थापित by the Supreme Court, the absence  अभाव of a sense of urgency to fill this legislative gap is mystifying  रहस्यपूर्ण.
Aadhaar is a bipartisan  द्विदलीय idea. Both BJP and Congress have seen merit महत्व  in it and many state governments endorse  विज्ञापन करना it. So a lot of ground to garner  संग्रह करना political support for a bill has already been covered. It's time for an ironclad लोहे के पत्थरों से मढ़ा हुआ जहाज legislation which addresses legitimate concerns  चिन्तित करना, including privacy . BJP has to take the initiative to get this legislation in place and Congress should support it as a lot of the groundwork to get Aadhaar up and running happened during UPA tenure  कार्यकाल. This is a bill which has the potential to directly improve opportunities for many people and, therefore, needs broad-based political support.






The Economic Times: Rationalise  पुनर्गठन करना Small Savings Interest Rates

The Centre needs to promptly  यथासमय revise and rationalise the interest rates on small savings. The rates, which are in the range of 8.7% to 9.3%, and provide tax-free returns to boot  लाभ होना, have not been revised संशोधित  for quite some time. True, savings need to be encouraged हिम्मत बढाना given the lack of social security in the country . But the fact of the matter is that small savings distort  तोड़ मरोड़ करना the entire interest-rate structure. The actual return on small savings instruments like the Public Provident Fund is closer to 11% compounded  संयोजित annually , which clearly seems artificially  कृत्रिम रूप से high. The interest rates on bank term deposits have, meanwhile  इस समय में, been reduced to 7-7.5% (higher rate for senior citizens), with the returns being taxed. Hence the need to recalibrate पुन:अंशाकन returns on small savings. We must not overtly प्रत्यक्ष रूप से discourage bank deposits. Otherwise, it would lead to a host of rigidities and anomalies असंगति 
, including asset-liability mismatches बेमेल.
More important, we need to rethink the whole idea of small savings with artificially high interest rates. The instruments were designed when the states were rather keen दिलचस्पी रखना to lap up झपट लेना 
 funds from the small savings corpus, never mind the higher interest rates. But most states are now revenue surplus and are wary होशियार of drawing upon dearer-cost funds.
The irony  विडम्बना is that small-savings rates are now required to be pegged  पिन से बँधा हुआ  to the auction rate for 10-year government securities.The economy's nominal growth has since fallen below the coupon rate for 10-year G-secs, which is also reduced from its earlier highs. The government needs to immediately reset the small savings rate to be in line with the going G-sec rate. We need to institutionalise automatic alignment  सम्मिलित of small-savings rates with market rates. For fixed returns, savers ideally need to opt for fixed-income instruments such as debt mutual funds. Artificially high interest rates simply make no sense.


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