Hindi English Translation || Editorial || Driven to tears: On the government’s move to arrest prices

Driven to tears: On the government’s move to arrest prices

Trade curbs (प्रतिबंध, निंयत्रण रखना) on farm products will distort sowing (बुवाई, बीजारोपण) preferences

With consumer food prices rising 11.5% in July, likely (संभावित, शायद) the third highest since the current retail inflation (मुद्रा स्फ़ीति) data series began in 2014, the government last Saturday made yet another gambit (plan, scheme, strategy, course of action, move) to arrest (stop, halt, end) prices. A 40% export levy (उगाही, अधिरोपण) on onion exports was imposed with immediate effect till at least December 31. This move (step, action, act, measure) follows curbs on non-basmati rice shipments outside India in July, and stock limits on pulses (edible seeds (chickpeas, lentils, beans). (dals)) and wheat imposed in June. Onion exports, which grew 65% last year, accounted for 8% of total domestic production. On Sunday, the government also announced a hike in buffer stocks of the curry essential by two lakh metric tonnes. Onion traders and farmers, in the midst of (के बीच में) the first upturn (चढ़ाव, वृद्धि) in prices after almost two years, were not impressed. Markets were shut in protest in Nashik, Asia’s largest onion trading hub (centre of activity; focal point), as farmers feared a glut (बहुतायत, भरमार) and a price crash (a sudden dramatic drop/decline in the value or price of something).

Maharashtra and Madhya Pradesh account for (constitute, form, comprise, make up, represent) almost 60% of India’s onion supplies, and the deficient (inadequate, insufficient, meagre, scanty, lacking) rainfall this month in parts of these States after excess rains in July had put a question mark (doubt about something) on the moisture-sensitive (easily damaged by change in moisture level) tuber’s prospects (संभावना, दृष्टिकोण) this kharif season. These worries likely triggered (cause, give rise to, lead to, be the cause of, bring about, generate, prompt) the recent uptick (a small increase or upward trend) in onion prices from around ₹23 a kilo two months ago to over ₹31 by this Monday. Relative to tomatoes, the other quintessential (being the most perfect & typical example of something; classic, ideal, consummate, exemplary, best, ultimate) ingredient for Indian curries, this price surge (sudden increase or rise of something) was not as stark (clear, distinct, evident, obvious, striking) yet, although some analysts projected (परियोजना करना, योजना बनाना) prices per kilo to touch ₹60-₹70 by September. To quell (calm, soothe, pacify, settle, appease, mitigate) onion farmers’ displeasure (अप्रसन्नता) at the export levy imposed (प्रभाव डालना) without a floor price (न्यूनतम मूल्य), Food and Consumer Affairs Minister Piyush Goyal on Tuesday promised that onions will be purchased at a “historical high” price of ₹2,410 per quintal, and buffer stock (a large supply of a commodity stored (as reserve/extra) by the government for the purposes of stabilizing prices in an entire economy) procurements (the action of procuring/purchasing/buying something) will be ramped up further if needed. A Bank of Baroda report cautioned that steps such as export curbs also have a tendency to reinforce (सुदृढ बनाना) the scarcity (कमी, दुर्लभता) factor worrying markets and push up (increase) prices further. How this attempt to balance the interests (common concerns (in politics/business)) of consumers and farmers plays out remains to be seen. A profligate (irresponsible, reckless; immoderate, excessive; unprincipled/corrupt, immoral) use of such blunt (forthright, direct, straightforward, indelicate, abrupt, unequivocal) policy interventions (any course of action, programme or activity taken or mandated by national authorities) ends up distorting sowing preferences in the coming year, especially in the very crops (a plant that can be grown and harvested extensively for profit or subsistence) that spurred (induce, prompt, stimulate, encourage) more inflation this year. Building durable (long-lasting, enduring, long-term, strong, sound, constant, stable, substantial) food supply chains (a food supply chain or food system refers to the processes that describe how food from a farm ends up on our tables (from farm to fork). The processes include production, processing, distribution, consumption and disposal), especially for vegetables that are traditionally susceptible (open to, exposed to, vulnerable to, liable to, prone to, defenceless against, easily affected by) to price volatility (price fluctuations of a commodity), needs greater attention so that monetary (fiscal, financial, budgetary) policy can focus on growth concerns. For instance, if tomato imports from Nepal helped cool (reduce, lessen, diminish, decrease) their prices from triple digit levels a month ago, it makes eminent (obvious, clear, total, complete, perfect, thorough) sense to engage with the neighbour (a country that is next to another country; (bordering) country) for a longer-term supply plan for vegetables with some predictable purchase assurances built in (integrated, incorporated, fixed).

Courtesy: The Hindu

Important Word List With Meaning

1.curb (noun)

Hindi Meaning - प्रतिबंध, निंयत्रण रखना
English Meaning - restriction, constraint, restraint, limitation.

2.sowing (noun)

Hindi Meaning - बुवाई, बीजारोपण
English Meaning - an act of seeding a plant or crop.

3.likely (adverb)

Hindi Meaning - संभावित, शायद
English Meaning - probably, in all probability, presumably, doubtlessly.

4.inflation (noun)

Hindi Meaning - मुद्रा स्फ़ीति
English Meaning - simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.

5.in the midst of (phrase)

Hindi Meaning - के बीच में
English Meaning - in the middle of.

6.prospects (noun)

Hindi Meaning - संभावना, दृष्टिकोण
English Meaning - chances, possibilities, expectations, outlook, future.

7.project (verb)

Hindi Meaning - परियोजना करना, योजना बनाना
English Meaning - predict, indicate, forecast, prognose, speculate, calculate (of future events or trends).

8.displeasure (noun)

Hindi Meaning - अप्रसन्नता
English Meaning - annoyance, irritation, vexation, upset, anger, indignation; disapproval, dissatisfaction, discontent, disgruntlement.

9.floor price (noun)

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

10.reinforce (verb)

Hindi Meaning - सुदृढ बनाना
English Meaning - increase, strengthen, support, encourage, enhance, intensify.

11.scarcity (noun)

Hindi Meaning - कमी, दुर्लभता
English Meaning - shortage, deficiency, unavailability, inadequacy, paucity, insufficiency.

12.impose (verb)

Hindi Meaning - प्रभाव डालना
English Meaning - apply, enforce, exact, inflict.

13.levy (noun)

Hindi Meaning - उगाही, अधिरोपण
English Meaning - imposition, charging, collection (of a tax, fee, fine).

14.upturn (noun)

Hindi Meaning - चढ़ाव, वृद्धि
English Meaning - increase, rise, surge, upsurge, uptrend.

15.glut (noun)

Hindi Meaning - बहुतायत, भरमार
English Meaning - surplus, excess, oversupply.

16.drive/move to tears (phrase)

English Meaning - to make someone to cry.

17.move (noun)

English Meaning - step, action, act, measure.

18.arrest (verb)

English Meaning - stop, halt, end.

19.Retail or Consumer Price Index (CPI) inflation (noun)

English Meaning - The change in the price index of the basket of consumer goods and services over a period of time is referred to as CPI-based inflation or retail inflation.

20.Wholesale or Wholesale price Index (WPI) inflation (noun)

English Meaning - The change in the price index of the basket of wholesale goods (and no services) over a period of time is referred to as WPI-based inflation or wholesale inflation.

21.gambit (noun)

English Meaning - plan, scheme, strategy, course of action, move.

22.pulses (noun)

English Meaning - edible seeds (chickpeas, lentils, beans). (dals).

23.account for (phrasal verb)

English Meaning - constitute, form, comprise, make up, represent.

24.buffer stock (noun)

English Meaning - a large supply of a commodity stored (as reserve/extra) by the government for the purposes of stabilizing prices in an entire economy.

25.hub (noun)

English Meaning - centre of activity; focal point.

26.crash (noun)

English Meaning - a sudden dramatic drop/decline in the value or price of something.

27.deficient (adjective)

English Meaning - inadequate, insufficient, meagre, scanty, lacking.

28.put a question mark (phrase)

English Meaning - doubt about something.

29.moisture-sensitive (adjective)

English Meaning - easily damaged by change in moisture level.

30.moisture (noun)

English Meaning - the amount of water vapour present in the air; condensation, water vapour.

31.tuber (noun)

English Meaning - plants/crops with swollen underground stems and roots.

32.kharif sowing/crops (noun)

English Meaning - monsoon crops; seeds sowing in the beginning (Jun) of the monsoon and harvesting at the end of the season (Oct) in the South Asia.

33.rabi sowing/crops (noun)

English Meaning - winter crops; seeds sowing in the beginning (Nov) of the winter and harvesting at the end of the season (Apr) in the South Asia.

34.trigger (verb)

English Meaning - cause, give rise to, lead to, be the cause of, bring about, generate, prompt.

35.uptick (noun)

English Meaning - a small increase or upward trend.

36.quintessential (adjective)

English Meaning - being the most perfect & typical example of something; classic, ideal, consummate, exemplary, best, ultimate.

37.surge (noun)

English Meaning - sudden increase or rise of something.

38.stark (adjective)

English Meaning - clear, distinct, evident, obvious, striking.

39.quell (verb)

English Meaning - calm, soothe, pacify, settle, appease, mitigate.

40.quintal (noun)

English Meaning - a unit of weight equal to 100 kilograms.

41.procurement (noun)

English Meaning - the action of procuring/purchasing/buying something.

42.ramp up (phrasal verb)

English Meaning - increase (in amount or number).

43.push up (phrasal verb)

English Meaning - increase.

44.interest (noun)

English Meaning - common concerns (in politics/business).

45.play out (phrasal verb)

English Meaning - develop, transpire (in a specific way); happen, taken place.

46.profligate (adjective)

English Meaning - irresponsible, reckless; immoderate, excessive; unprincipled/corrupt, immoral.

47.blunt (adjective)

English Meaning - forthright, direct, straightforward, indelicate, abrupt, unequivocal.

48.policy intervention (noun)

English Meaning - any course of action, programme or activity taken or mandated by national authorities.

49.end up (phrasal verb)

English Meaning - finish up, turn up, come/appear, find oneself (to a particular course of action in the end).

50.crop (noun)

English Meaning - a plant that can be grown and harvested extensively for profit or subsistence.

51.spur (verb)

English Meaning - induce, prompt, stimulate, encourage.

52.durable (adjective)

English Meaning - long-lasting, enduring, long-term, strong, sound, constant, stable, substantial.

53.food supply chain (noun)

English Meaning - a food supply chain or food system refers to the processes that describe how food from a farm ends up on our tables (from farm to fork). The processes include production, processing, distribution, consumption and disposal.

54.susceptible (adjective)

English Meaning - open to, exposed to, vulnerable to, liable to, prone to, defenceless against, easily affected by.

55.price volatility (noun)

English Meaning - price fluctuations of a commodity.

56.volatility (noun)

English Meaning - unpredictability, instability, unreliability.

57.monetary (adjective)

English Meaning - fiscal, financial, budgetary.

58.monetary policy (noun)

English Meaning - monetary policy refers to the use of monetary instruments under the control of the central bank to regulate magnitudes such as interest rates, money supply, and availability of credit with a view to achieving the ultimate objective of economic policy mentioned in the Reserve Bank of India Act, 1934.

59.cool (verb)

English Meaning - reduce, lessen, diminish, decrease.

60.eminent (adjective)

English Meaning - obvious, clear, total, complete, perfect, thorough.

61.neighbour (noun)

English Meaning - a country that is next to another country; (bordering) country.

62.built in (adjective)

English Meaning - integrated, incorporated, fixed.