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The Hindu: Evidence of fragility: on underwhelming growth estimates
Five months after Chief Economic Adviser Arvind Subramanian predicted that economic growth was likely to be closer to 6.5% in the current fiscal year, the Central Statistics Office has forecast that the gross domestic product (GDP) would expand at precisely that pace in the 12 months ending in March. The headwinds that had been flagged by Mr. Subramanian at that time are proving to be the crucial factors dampening momentum. For one, gross value added, or GVA — which excludes taxes that feature in the GDP number — is projected to grow by 6.1%, slowing from a provisional 6.6% in 2016-17, as manufacturing and the agriculture, forestry and fishing components of GVA decelerate. Second, the key investment metric of gross fixed capital formation, though estimated to show faster growth, is expected to shrink in terms of proportion to GDP: to 29%, from 29.5% in the provisional estimates for 2016-17 and 30.9% in 2015-16. With the Index of Industrial Production (IIP) data released in mid-December also reflecting a sharp slowdown over the seven-month period from April to October, there are signs that the rebound seen in the second quarter may be far more vulnerable to unravelling than previously considered. With agriculture struggling for traction, despite a ‘normal’ monsoon, the prospect of private final consumption expenditure regaining vigour in a hurry seems remote, especially since rural households make a sizeable contribution to aggregate demand. The forecast for consumption spending posit both a slowdown in growth to 6.3% in 2017-18, from 8.7% a year earlier, and a marginal contraction in share of GDP.
1.Precisely(Adverb) : ठीक
Meaning : exactly (used to emphasize the complete accuracy or truth of a statement).
Synonyms : exactly, sharp, on the dot; promptly, prompt, dead (on), on the stroke of, on the dot of ; right, directly, squarely; informalbang (on), spot on, smack, slap, slap bang, plumb; on the button, on the nose, smack dab.
Antonyms : imprecisely, inexactly, imprecisely, inexactly.
Usage : at 2.00 precisely, the phone rang.
2.Predicted(Verb) : भविष्यवाणी की
Meaning : say or estimate that (a specified thing) will happen in the future or will be a consequence of something.
Synonyms : forecast, foretell, foresee, prophesy, divine, prognosticate, anticipate, see, say, tell in advance, project, speculate, envision, envisage, imagine, picture, estimate, conjecture, guess, hazard a guess; archaicaugur, previse, presage, foreshow; archaicspae; rarevaticinate.
Antonyms – expected.
Usage : it is difficult to predict what the outcome will be.
3.Flagged(Adjective) : एक तरह का पेड़
Meaning : paved with flat stone slabs.
Synonyms : abate,deteriorate,die,droop,ebb,fade,fail,faint,languish, peter out,pine, sag,sink,slump,succumb, taper off,wane,weaken, weary, wilt.
Antonyms : do well,increase,rise,strengthen.
Usage : a large, flagged vestibule.
4.Dampening(Verb) : कमी लाने के
Meaning : make slightly wet.
Synonyms : moisten, damp, wet, dew, water, irrigate, humidify; literarybedew; raresparge, humify, humect.
Antonyms : cheer,delight, gladden, make happy.
Usage : the fine rain dampened her face.
5.Components(Noun) : अवयव
Meaning : a part or element of a larger whole, especially a part of a machine or vehicle.
Synonyms : part, piece, bit, constituent, element, ingredient; unit, module, item; section, portion; rareintegrant.
Antonyms : whole.
Usage : an assembly plant for imported components.
6.Decelerate(Verb) : धीमा करना
Meaning : reduce or cause to reduce in speed.
Synonyms : slow down, slow up, slow, go slower, ease up, slack up, reduce speed, lessen one’s speed, brake.
Antonyms : accelerate.
Usage : there is a whine coming from the gearbox every time I decelerate.
7.Rebound(Verb) : प्रतिक्षेप
Meaning : bounce back through the air after hitting something hard.
Synonyms : bounce, bounce back, spring back, ricochet, boomerang, glance, recoil; carom; rareresile.
Antonyms : work.
Usage : his shot hammered into the post and rebounded across the goal.
8.Traction(Nonu) : संकर्षण
Meaning : the grip of a tyre on a road or a wheel on a rail.
Synonyms : grip, friction, adhesion, purchase, resistance; pull, haulage, propulsion, drag.
Antonyms : slipperiness.
Usage : his car hit a patch of ice and lost traction.
9.Vigour(Noun) : ताक़त
Meaning : physical strength and good health.
Synonyms : robustness, healthiness, good health, hardiness, strength, stamina, sturdiness, fitness, good shape, good trim, good condition, fine fettle, toughness, ruggedness, muscle, power; bloom, radiance, sap; energy, activity, liveliness, life, spryness, sprightliness, vitality, vivacity, vivaciousness, verve, animation, spiritedness, spirit, enthusiasm, fire, fieriness, fervor.
Usage : the springing curls were a sign of vigour and health.
10.Contraction(noun) : संकुचन
Meaning : the process of becoming smaller.
Synonyms : shrinking, reduction in size, shrinkage; decline, decrease, diminution, dwindling; downtick.
Antonyms : amplification, dilation, enlargement, expansion, extension, increase, lengthening, spread, stretch.
Usage : the general contraction of the industry did further damage to morale.