Today I am sharing the Article from The Economic Times with Important vocabulary for Bank/SSC Exam. As this article is also important because many times in exam you will directly get this type of passage in either Reading comprehension or in cloze test. So get prepared and read at least one article from any newspaper specially The Hindu/ The Economic Times/Indian Express on daily basis.
Source: The Economic Times
Article: A quarter century of economic reform
India’s contemporary economy began to take shape a quarter of a century ago, on July 1, 1991, with the first of a two-step devaluation of the rupee to the tune of a fifth. It was not apparent then. Indeed the mood around new Prime Minister PV Narasimha Rao was politically adversarial, fearful about the present and apprehensive about what the future would bring. But the economy was in a desperate shape. The expansionary policy of the ’80s had widened the fiscal and current account deficits, the first Gulf War had triggered financial global panic and India had just enough foreign exchange for two weeks of imports. Correcting the overvaluation of the rupee was the necessary first step. Everyone, from the BJP’s Atal Bihari Vajpayee, to VP Singh of the Janata Dal and the Left parties, cried foul.
Here is the Today's Word List
1. Contemporary: living or occurring at the same time.
Synonym: present-day, present, current, present-time, immediate
Example: "the event was recorded by a contemporary historian"
2. Devaluation: an official lowering of the exchange value of a country's currency relative to gold or other currencies.
Synonym: Decline, Reduction. Weakening, Write-Down, Decrease
Example: Due to economic slowdown currency is getting devaluated.
3. Apparent: according to appearances, initial evidence, incomplete results, ostensible rather than actual:
Synonym: Possible, Probable, Supposed, Illusive, Credible
Example: He was the apparent winner of the election.
4. Indeed: in fact; in reality; in truth; truly (used for emphasis, to confirm and amplify a previous statement, to indicate a concession or admission, or, interrogatively, to obtain confirmation)
Synonym: Absolutely, Truly, Undeniably, Surely, Naturally, Easily
Example: Indeed, it did rain as hard as predicted. Did you indeed finish the work?
5. Adversarial: a person, group, or force that opposes or attacks; opponent; enemy; foe.
Synonym: Antagonistic, Adverse, Antipathetic, and Opposed
Example: I think we are going to have the most adversarial relationship with those entities of any media outlet with a profile
6. Apprehensive: uneasy or fearful about something that might happen, quickly to learn or understand, perceptive; discerning (usually followed by of).
Synonym: Afraid, Concerned, Uptight, Doubtful, Jumpy, and Suspicious
Example: He was a shy and apprehensive boy who refused to leave the safety of his stroller in the park.
7. Desperate: having an urgent need, desire, extreme or excessive.
Synonym: rash, frantic, grave, forlorn, desolate.
Example: a desperate attempt to save a life.
8. Expansionary: tending toward expansion
Example: For the last several years, the Fed has been expansionary while government has been contractionary.
9. Overvaluation: to value too highly; put too high a value on:
Synonym: Misinterpretation, blow, Miscount, Blunder
Example: They should be careful not to overvalue the property.
10. Foul: grossly offensive to the senses; disgustingly loathsome; noisome, abounding in errors or in marks of correction, as a printer's proof, manuscript, or the like.
Synonym: repulsive, repellent, fetid, putrid, stinking, unclean, polluted, sullied, soiled, stained, tainted, impure
Example: Miller took particular exception to a post in which Kelley had worried she might fall victim to foul play.
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