Topic of the day:-“Six steps to job creation”
In India’s highly segmented labour market, one can still discern at least three demographic groups that are in urgent need of jobs: a growing number of better educated youth; uneducated agricultural workers who wish to leave agricultural distress behind; and young women, who too are better educated than ever before. India is indeed the fastest growing large economy in the world; yet with investment low, credit off take low, capacity utilisation in industry low, agricultural growth low, plant load factor low, it is hardly surprising that job growth is low as well. Although growth is relatively high (though slowing for last several quarters), it is the pattern of growth that is the problem. Among many dimensions of this problem is the fact that in the quarter century since economic reforms began, it is not manufacturing that has been the leading sector driving growth. Manufacturing should drive productivity in the whole economy. Services cannot, as services by definition ‘service’ the distribution of produced goods. So what can policy-makers do to revive job growth, other than invest more in infrastructure, which this government has been attempting to do especially for last 18 months or so, in both rural and urban India?
MEANINGS AND WORDS
1) Discern
Meaning: Recognize or find out.
Example: I can discern no difference between the two policies.
Synonyms: Perceive, Detect
Antonyms: Overlook, Miss
2) Indeed
Meaning: Used to emphasize a statement or response confirming something already suggested.
Example: It was not expected to last long, and indeed it took less than three weeks.
Synonyms: Actually, Really
3) Revive
Meaning: Give new strength or energy to.
Example: The cool, refreshing water revived us all.
Synonyms: Reinvigorate, Revitalize
Antonyms: Torpefy
4) Paralysis
Meaning: Inability to act or function properly.
Example: The paralysis gripping the country.
Synonyms: Shutdown, Stoppage
5) Tariffs
Meaning: A tax or duty to be paid on a particular class of imports or exports.
Example: The reduction of trade barriers and import tariffs.
Synonyms: Tax, Duty
6) Inverted
Meaning: Put upside down or in the opposite position, order, or arrangement.
Example: Invert the mousse on to a serving plate.
Synonyms: Upturn, Upend
7) Decimating
Meaning: Kill, destroy, or remove a large proportion of.
Example: The inhabitants of the country had been decimated.
8) Latter
Meaning: Denoting the second or second mentioned of two people or things.
Example: The Russians could advance into either Germany or Austria—they chose the latter option.
Synonyms: Last –mentioned, Second
Antonyms: Former, Prior
9) Concessional
Meaning: (Of a rate or allowance) constituting a concession.
Example: A concessional interest rate.
10) Emanating
Meaning: Give out or emit (a feeling, quality, or sensation).
Example: He emanated a powerful brooding air.
Synonyms: Exude, Exhale
11) Reforms
Meaning: Make changes in (something, especially an institution or practice) in order to improve it.
Example: The Bill will reform the tax system.
Synonyms: Improve, Better
Antonyms: Preserve, Maintain
12) Thrived
Meaning: (Of a child, animal, or plant) grow or develop well or vigorously.
Example: The new baby thrived.
Synonyms: Flourish, Prosper
Antonyms: Decline, Wither
13) Apparel
Meaning: Clothing.
Example: They were dressed in bright apparel.
Synonyms: Clothes, Dress
14) Rejuvenation
Meaning: The action or process of making someone or something look or feel better, younger, or more vital.
Example: Plans for the rejuvenation of the area.
15) Afford
Meaning: Have enough money to pay for.
Example: The best that I could afford was a first-floor room.
Synonyms: Manage, Provide
