Hindi English Translation || Editorial || Delaying the inevitable: On relief to telcos

Delaying the inevitable: On relief to telcos

The Centre’s relief (राहत, सहायता) to telcos can only be the first step in efforts to boost the stressed sector

The Union Cabinet’s approval on Wednesday of a relief-cum-reforms package for the financially stressed telecom sector, though verily (सचमुच, निश्चय ही) a step in the right direction, is at best (only, merely, nothing but, no more than) only likely (उपयुक्त, संभवतः, निःसंदेह) to delay the inevitable (अपरिहार्य). In a tacit (मतलब रखा हुआ, निहित, समझा हुआ) acknowledgment (स्वीकृति, प्रवेश, मान्यता) of the extent of stress in the sector as well as (and also, and in addition) the far-reaching (sweeping, overarching, extensive, profound, comprehensive) economic consequences (परिणाम, प्रभाव) of protracted (लंबा, बढ़ा हुआ) distress (तनाव, परेशानी, कठिनाई) in the industry, the Government decided to offer telecom service (pay interest on (a debt)) providers the option of a four-year moratorium (a temporary suspension/postponement of activity (for example; payment of a debt)) on the payment of outstanding (pending; unpaid, unsettled, owing, payable, overdue) AGR and spectrum purchase dues (देय राशि). This one measure (उपाय, क्रिया, कदम) alone is expected to ease (आराम, कम करना) the immediate financial pressure on the telcos, especially at Vodafone Idea and Bharti Airtel. The venture (उद्यम, संचालन) created by the merger of the Indian unit of the U.K.-based Vodafone Group Plc and billionaire Kumar Mangalam Birla’s erstwhile (भूतपूर्व, पुराना, पूर्व) Idea Cellular Ltd. had deferred spectrum (airwaves; it refers to a range of electromagnetic (radio) waves that are used for communication purposes (to transmit
signals over specific bands)) payment obligations (indebtedness, debt, liability (usually liabilities)) and AGR liabilities that exceeded ₹1.68-lakh crore as of June 30. The Government’s moratorium offer should, at least for now, relieve the burden of finding the funds to service these liabilities at the loss-making telco, giving it the space (period, span, time, interval; elbow room, flexibility, freedom from restriction) to focus on continuing to provide vital (key, essential, important) telecom services to about 27 crore wireless subscribers still with it. However, the woes (trouble, difficulty, problem) at Vodafone Idea are deeper and symptomatic (indicative, signaling, warning) of the broader industry-wide maladies (a serious problem) that have pared (reduce, diminish, decrease, cut) the once more-than-dozen-strong field to just three private players and one struggling state-owned (government-owned) company.

The entry of a deep-pocketed (affluent, rich; relating to something/someone with abundant financial resources) newcomer five years ago and its ‘take-no-prisoners approach’ to tariffs triggered (cause, prompt, give rise to, bring about) a price war that depressed (upset, distress, cause suffering to) average revenue per user and bled most legacy (relating to something that has been superseded but is difficult to replace due to its wide use) telcos operationally into the red. The after-effects (repercussion, aftermath, consequence) of the bruising (stressful, demanding/taxing, painful) competitive plunge (fall, drop, tumble, slump) in call and data tariffs are still being felt by the surviving operators and the issue of a floor price (a minimum price required of an item being auctioned) is one among many that the latest reforms completely skirt (avoid, evade, steer clear of, sidestep, dodge, circumvent, bypass). To be sure, the Government has sought to address (tackle, deal with, attend to, try to sort out) several anomalies (something different, abnormal, unusual; oddity, peculiarity, deviation, aberration, exception) in the policy regime (system) including the definition of AGR that had led to the large build-up (increase/accumulation, expansion, enlargement) of dues and protracted and ultimately (eventually, in the end, finally) pointless litigation (legal action, lawsuit, legal case). Non-telecom revenue will hereafter be excluded from the AGR, a long-standing (persistent, continuing (for a long time)) demand from the telcos. The telcos would also not have to pay any spectrum usage charge for airwaves acquired in future auctions, could share spectrum without incurring any additional cost, and hold the airwaves acquired at an auction for 30 years instead of 20. Several procedural norms (standard, convention, criterion, rule) have also been simplified. Still, the prospects of the sector diminishing (decrease, decline, reduce, dwindle )to a duopoly (it is used to describe any market where two firms dominate) remain high. With Vodafone Group CEO Nick Read categorically (unqualifiedly, unconditionally, unequivocally, absolutely, explicitly, unambiguously, certainly, directly,
completely) telling analysts in July that the firm would not be investing any additional equity (the amount of capital invested or owned by the owner of a company) into India and Mr. Birla throwing in the towel last month, the Centre’s relief may be too little, too late.

Courtesy: The Hindu

Important Word List With Meaning

1.the inevitable (noun)

Hindi Meaning - अपरिहार्य
English Meaning - an unavoidable situation, an unpreventable situation.

2.relief (noun)

Hindi Meaning - राहत, सहायता
English Meaning - (financial) help, aid, assistance, succour.

3.verily (adverb)

Hindi Meaning - सचमुच, निश्चय ही
English Meaning - definitely, certainly, undoubtedly.

4.likely (adverb)

Hindi Meaning - उपयुक्त, संभवतः, निःसंदेह
English Meaning - probably, in all probability, presumably, doubtlessly.

5.tacit (adjective)

Hindi Meaning - मतलब रखा हुआ, निहित, समझा हुआ
English Meaning - implicit, understood, implied, hinted, suggested.

6.acknowledgment (noun)

Hindi Meaning - स्वीकृति, प्रवेश, मान्यता
English Meaning - acceptance, admission, recognition, realization.

7.stress (noun)

Hindi Meaning - तनाव, परेशानी, कठिनाई
English Meaning - (financial) trouble, difficulty, distress, suffering; strain, pressure.

8.consequence (noun)

Hindi Meaning - परिणाम, प्रभाव
English Meaning - outcome, ramification, repercussion.

9.protracted (adjective)

Hindi Meaning - लंबा, बढ़ा हुआ
English Meaning - lengthy, prolonged, extended, very long, lingering, never-ending.

10.distress (noun)

Hindi Meaning - कठिनाई, परेशानी
English Meaning - difficulty, trouble, hardship.

11.dues (noun)

Hindi Meaning - देय राशि
English Meaning - payment (which is (long) pending).

12.measure (noun)

Hindi Meaning - उपाय, क्रिया, कदम
English Meaning - action, step, procedure.

13.ease (verb)

Hindi Meaning - आराम, कम करना
English Meaning - lessen, reduce, decrease.

14.venture (noun)

Hindi Meaning - उद्यम, संचालन
English Meaning - (business) enterprise, undertaking, operation, activity.

15.erstwhile (adjective)

Hindi Meaning - भूतपूर्व, पुराना, पूर्व
English Meaning - old, previous, former, then.

16.a step in the right direction (phrase)

English Meaning - an action or decision or move that increases possibilities of achieving something (e.g. success).

17.at best (phrase)

English Meaning - only, merely, nothing but, no more than.

18.telco (noun)

English Meaning - Telephone company, a provider of telecommunications services.

19.stressed (adjective)

English Meaning - strained, troubled, distressed, suffering, struggling (mainly due to debt/dues); cash-strapped.

20.as well as (phrase)

English Meaning - and also, and in addition.

21.far-reaching (adjective)

English Meaning - sweeping, overarching, extensive, profound, comprehensive.

22.moratorium (noun)

English Meaning - a temporary suspension/postponement of activity (for example; payment of a debt).

23.outstanding (noun)

English Meaning - pending; unpaid, unsettled, owing, payable, overdue.

24.Adjusted Gross Revenue (AGR) (noun)

English Meaning - the usage and licensing fee that telecom/DTH operators are charged by the Department of Telecommunications (DoT). According to the DoT, the calculations should incorporate all revenues earned by a telecom company including from non-telecom sources such as deposit interests and sale of assets.

25.spectrum (noun)

English Meaning - airwaves; it refers to a range of electromagnetic (radio) waves that are used for communication purposes (to transmit
signals over specific bands).

26.defer (verb)

English Meaning - postpone, put off, delay, hold off.

27.obligation (noun)

English Meaning - indebtedness, debt, liability (usually liabilities).

28.service (verb)

English Meaning - pay interest on (a debt).

29.space (noun)

English Meaning - period, span, time, interval; elbow room, flexibility, freedom from restriction.

30.vital (adjective)

English Meaning - key, essential, important.

31.woes (noun)

English Meaning - trouble, difficulty, problem.

32.deeper comparative adjective of deep (adjective)

English Meaning - intense, heavy, serious.

33.symptomatic (adjective)

English Meaning - indicative, signaling, warning.

34.malady (noun)

English Meaning - a serious problem.

35.pare (verb)

English Meaning - reduce, diminish, decrease, cut.

36.state-owned (adjective)

English Meaning - government-owned.

37.deep-pocketed (adjective)

English Meaning - affluent, rich; relating to something/someone with abundant financial resources.

38.take-no-prisoners (phrase)

English Meaning - be aggressive, be uncompromising, show no mercy approach (an informal military term).

39.trigger (verb)

English Meaning - cause, prompt, give rise to, bring about.

40.price war (noun)

English Meaning - a situation in which competitors lower prices for their product/service to gain business.

41.depress (verb)

English Meaning - upset, distress, cause suffering to.

42.bleed (verb)

English Meaning - drain, exhaust, sap, deplete, deprive, empty, reduce.

43.legacy (adjective)

English Meaning - relating to something that has been superseded but is difficult to replace due to its wide use.

44.in the red (phrase)

English Meaning - in debt, in deficit, owing money, in arrears, showing a loss.

45.after-effect (noun)

English Meaning - repercussion, aftermath, consequence.

46.bruising (adjective)

English Meaning - stressful, demanding/taxing, painful.

47.plunge (noun)

English Meaning - fall, drop, tumble, slump.

48.floor price (noun)

English Meaning - a minimum price required of an item being auctioned.

49.skirt (verb)

English Meaning - avoid, evade, steer clear of, sidestep, dodge, circumvent, bypass.

50.to be sure (phrase)

English Meaning - certainly, surely; used to highlight something.

51.sought past participle seek (verb)

English Meaning - try, aim, attempt.

52.address (verb)

English Meaning - tackle, deal with, attend to, try to sort out.

53.anomaly (noun)

English Meaning - something different, abnormal, unusual; oddity, peculiarity, deviation, aberration, exception.

54.regime (noun)

English Meaning - system.

55.lead to (verb)

English Meaning - result in, cause, bring on.

56.build-up (noun)

English Meaning - increase/accumulation, expansion, enlargement.

57.ultimately (adverb)

English Meaning - eventually, in the end, finally.

58.litigation (noun)

English Meaning - legal action, lawsuit, legal case.

59.long-standing (adjective)

English Meaning - persistent, continuing (for a long time).

60.incur (verb)

English Meaning - suffer, sustain, experience, bring upon oneself.

61.norm (noun)

English Meaning - standard, convention, criterion, rule.

62.prospects (noun)

English Meaning - chances, possibilities, expectations, outlook, future.

63.diminish (verb)

English Meaning - decrease, decline, reduce, dwindle.

64.duopoly (noun)

English Meaning - it is used to describe any market where two firms dominate.

65.categorically (adverb)

English Meaning - unqualifiedly, unconditionally, unequivocally, absolutely, explicitly, unambiguously, certainly, directly,
completely.

66.telling (adjective)

English Meaning - striking, strong, significant, important.

67.equity (noun)

English Meaning - the amount of capital invested or owned by the owner of a company.

68.throw in the towel (phrase)

English Meaning - admit defeat, concede defeat, give up, give in, surrender, capitulate, give way, back down.

69.too little and too late (phrase)

English Meaning - blaming someone for not doing enough to prevent a problem and/or blaming someone for taking action only after the problem had become very bad.