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The Hindu Editorial – 31 Jan 2026

A job well done: On the Economic Survey 2025-26

Editorial Grammar & Vocabulary Analysis

For SSC, Banking, NDA, CDS, UPSC & Teaching Exams


Through his Economic Survey 2025-26 (Obj), Chief Economic Adviser (CEA) V. Anantha Nageswaran (Sub) has once again (Adv) shown (Present Perfect) the value (Obj) of level-headed (Adj) analysis (Obj) while eschewing (Gerund) sensationalism (Obj). With the global (Adj) economy (Obj) in flux (Obj) and the Indian (Adj) economy (Sub) displaying (Gerund) stability (Obj), the need (Sub) of the day (Obj) is (Present Simple) pointed (Adj) analysis (Obj) of current (Adj) data (Obj) for future (Adj) policy (Obj).

Summary: The CEA’s Economic Survey demonstrates balanced, non-sensational analysis. In a changing global landscape with India showing stability, the priority is insightful data analysis for future policymaking.
सारांश: मुख्य आर्थिक सलाहकार का आर्थिक सर्वेक्षण संतुलित, गैर-सनसनीखेज विश्लेषण प्रदर्शित करता है। भारत की स्थिरता दिखाने वाले बदलते वैश्विक परिदृश्य में, भविष्य की नीति निर्माण के लिए गहन डेटा विश्लेषण प्राथमिकता है।

In this (Obj), the Survey (Sub) has delivered (Present Perfect). It (Sub) has charted (Present Perfect) out a broad (Adj) framework (Obj) for a medium-term (Adj) economic (Adj) and governance (Adj) strategy (Obj), highlighting (Present Participle) the concept (Obj) of an ‘entrepreneurial state’ (Obj) that (Sub) is (Present Simple) more (Adv) risk-taking (Adj), agile (Adj), and willing (Adj) to experiment (Infinitive).

Summary: The Survey has successfully provided a strategic framework for the medium term, introducing the idea of a more adventurous, flexible, and experimental ‘entrepreneurial state’.
सारांश: सर्वेक्षण ने मध्यम अवधि के लिए एक रणनीतिक ढांचा सफलतापूर्वक प्रदान किया है, जो अधिक साहसी, लचीले और प्रयोगात्मक ‘उद्यमशील राज्य’ के विचार को पेश करता है।

The CEA (Sub) is pushing (Present Continuous) for a forward-looking (Adj) dynamic (Adj) shift (Obj) to policymaking (Obj) that (Sub) is (Present Simple) willing (Adj) to fail (Infinitive) and learn (Infinitive) in the quest (Obj) for much-needed (Adj) growth (Adj) acceleration (Obj). Now (Adv) past the turbulent (Adj) COVID-19 pandemic (Obj), it (Sub) is (Present Simple) time (Obj) to look ahead (Infinitive) with policy (Sub) filling (Gerund) the economy’s sails (Obj).

Summary: The CEA advocates for a progressive, dynamic policy approach that accepts failure as part of learning to accelerate growth. With the pandemic behind, it’s time for forward-looking policies to propel the economy.
सारांश: मुख्य आर्थिक सलाहकार एक प्रगतिशील, गतिशील नीतिगत दृष्टिकोण की वकालत करते हैं जो विकास को गति देने के लिए सीखने के हिस्से के रूप में विफलता को स्वीकार करता है। महामारी के पीछे रह जाने के साथ, अर्थव्यवस्था को आगे बढ़ाने के लिए दूरदर्शी नीतियों का समय है।

The Survey (Sub) acknowledges (Present Simple) that this (Sub) will not be (Future Simple) easy (Adj). Indeed (Adv), it (Sub) assigns (Present Simple) a 10%-20% (Adj) probability (Obj) to the global (Adj) economy (Obj), in 2026 (Obj), descending (Gerund) into a crisis (Obj) worse (Adj) than that in 2008 (Obj). Even its best-case (Adj) scenario (Sub) is (Present Simple) a worsening (Obj) of conditions (Obj) as they (Sub) were (Past Simple) in 2025 (Obj).

Summary: The Survey recognizes the difficulty ahead, estimating a significant chance of a severe global crisis in 2026. Even the most optimistic outlook predicts a deterioration from 2025 conditions.
सारांश: सर्वेक्षण आगे की कठिनाई को पहचानता है, 2026 में एक गंभीर वैश्विक संकट की महत्वपूर्ण संभावना का अनुमान लगाता है। यहां तक कि सबसे आशावादी दृष्टिकोण भी 2025 की स्थितियों से बिगड़ने की भविष्यवाणी करता है।

Yet (Adv), the Survey (Sub) does (Present Simple) paint (Present Simple) a favourable (Adj) picture (Obj) of India’s economy (Obj), backed (Past Participle) with facts (Obj) and figures (Obj). It (Sub) also (Adv) does not shy away (Present Simple) from pointing out (Gerund) some (Adj) emerging (Adj) risks (Obj) and developing (Adj) problems (Obj).

Summary: Despite the grim global outlook, the Survey presents a positive, data-backed view of India’s economy and also courageously identifies several nascent risks and challenges.
सारांश: वैश्विक दृष्टिकोण के निराशाजनक होने के बावजूद, सर्वेक्षण भारत की अर्थव्यवस्था का एक सकारात्मक, डेटा-समर्थित दृष्टिकोण प्रस्तुत करता है और साहसपूर्वक कई उभरते जोखिमों और चुनौतियों की पहचान भी करता है।

At the macro (Adj) level (Obj), it (Sub) points out (Present Simple) that the falling (Adj) rupee (Sub) does not reflect (Present Simple) India’s economic (Adj) fundamentals (Obj), and the depreciation (Sub) is (Present Simple) due (Adj) in large part (Adv) to capital (Obj) flowing (Gerund) to countries (Obj) with more developed (Adj) AI industries (Obj) and to safe-haven (Adj) assets (Obj).

Summary: The Survey explains that the rupee’s decline is not due to India’s economic fundamentals but primarily to capital moving towards advanced AI economies and safer assets.
सारांश: सर्वेक्षण बताता है कि रुपये में गिरावट भारत की आर्थिक बुनियादी बातों के कारण नहीं है बल्कि मुख्य रूप से उन्नत एआई अर्थव्यवस्थाओं और सुरक्षित परिसंपत्तियों की ओर पूंजी के बहाव के कारण है।

A weak (Adj) rupee (Sub) is (Present Simple) good (Adj) for exporters (Obj), but India (Sub) predominantly (Adv) depends (Present Simple) on imports (Obj) — and those (Sub) have become (Present Perfect) more (Adv) expensive (Adj). If trade negotiations (Sub) have revealed (Present Perfect) anything (Obj), it (Sub) is (Present Simple) that India (Sub) is (Present Simple) not (Adv) strategically (Adv) vital (Adj) to any merchandise (Adj) supply chain (Obj).

Summary: While a weak rupee benefits exporters, it harms India’s import-dependent economy by increasing costs. Trade talks have shown India lacks critical importance in global supply chains.
सारांश: जबकि कमजोर रुपया निर्यातकों को लाभान्वित करता है, यह लागत बढ़ाकर भारत की आयात-निर्भर अर्थव्यवस्था को नुकसान पहुंचाता है। व्यापार वार्ताओं से पता चला है कि भारत वैश्विक आपूर्ति श्रृंखलाओं में महत्वपूर्ण महत्व रखने में कमी रखता है।

To address (Infinitive) this (Obj) and other (Adj) structural (Adj) weaknesses (Obj), the Survey (Sub) outlines (Present Simple) an ambitious (Adj) plan (Obj) to focus (Infinitive) on strategic (Adj) resilience (Obj) and, eventually (Adv), develop (Infinitive) “strategic indispensability” (Obj).

Summary: To tackle these and other deep-seated issues, the Survey proposes an ambitious strategy aimed at building resilience and eventually achieving indispensable status in global systems.
सारांश: इन और अन्य गहरी जड़ें जमाए मुद्दों से निपटने के लिए, सर्वेक्षण लचीलापन बनाने और अंततः वैश्विक प्रणालियों में अपरिहार्य स्थिति हासिल करने के उद्देश्य से एक महत्वाकांक्षी रणनीति का प्रस्ताव करता है।

It (Sub) also (Adv) argues (Present Simple) for greater (Adj) fiscal (Adj) flexibility (Obj) for the Centre (Obj) to address (Infinitive) geopolitical (Adj) and geoeconomic (Adj) uncertainties (Obj), but, simultaneously (Adv), cautions (Present Simple) States (Obj) against fiscal (Adj) populism (Obj).

Summary: The Survey recommends more fiscal leeway for the central government to manage international uncertainties, while warning state governments against populist fiscal measures.
सारांश: सर्वेक्षण अंतरराष्ट्रीय अनिश्चितताओं का प्रबंधन करने के लिए केंद्र सरकार के लिए अधिक राजकोषीय गुंजाइश की सिफारिश करता है, जबकि राज्य सरकारों को जनवादी राजकोषीय उपायों के खिलाफ चेतावनी देता है।

The reasoning (Sub) is (Present Simple) clear (Adj): while the Centre (Sub) has managed (Present Perfect) to more than halve (Infinitive) its fiscal (Adj) deficit ratio (Obj) in five (Adj) years (Obj), an increasing (Adj) number (Sub) of States (Obj) have fallen (Present Perfect) into revenue (Adj) deficits (Obj) in this (Adj) period (Obj).

Summary: This advice is logical because the central government has drastically reduced its fiscal deficit, whereas many states have slipped into revenue deficits during the same timeframe.
सारांश: यह सलाह तार्किक है क्योंकि केंद्र सरकार ने अपने राजकोषीय घाटे में भारी कमी की है, जबकि कई राज्य उसी समयावधि के दौरान राजस्व घाटे में खिसक गए हैं।

This (Sub) cannot be ignored (Modal Passive), despite the political (Adj) attractiveness (Obj) of unconditional (Adj) cash (Adj) transfers (Obj). It (Sub) is (Present Simple) noteworthy (Adj) that four (Adj) major (Adj) States (Sub) go (Present Simple) for elections (Obj) this (Adj) year (Obj), only one (Obj) of which (Sub) is (Present Simple) currently (Adv) led (Past Participle) by the BJP (Obj).

Summary: This fiscal concern cannot be overlooked, even though direct cash transfers are politically appealing. The timing is significant as four major states face elections this year, most not governed by the ruling party.
सारांश: इस राजकोषीय चिंता को नजरअंदाज नहीं किया जा सकता, भले ही प्रत्यक्ष नकद हस्तांतरण राजनीतिक रूप से आकर्षक हों। समय महत्वपूर्ण है क्योंकि चार प्रमुख राज्य इस साल चुनाव का सामना करते हैं, जिनमें से अधिकांश पर शासन करने वाली पार्टी का शासन नहीं है।

The Survey (Sub) points out (Present Simple) several (Adj) other (Adj) emerging (Adj) problems (Obj), such as the impact (Obj) of ethanol (Adj) production (Obj) on food (Adj) security (Obj), the real (Adj) costs (Obj) of the ongoing (Adj) shift (Obj) to renewable (Adj) energy (Obj), the lack (Obj) of adequate (Adj) fodder (Obj), and, not (Adv) insignificantly (Adv), the impact (Obj) of “compulsive scrolling” (Obj) on smartphones (Obj).

Summary: The Survey identifies several other growing issues, including ethanol production’s effect on food security, the true costs of transitioning to renewables, fodder shortages, and the significant impact of smartphone addiction.
सारांश: सर्वेक्षण कई अन्य बढ़ते मुद्दों की पहचान करता है, जिनमें इथेनॉल उत्पादन का खाद्य सुरक्षा पर प्रभाव, नवीकरणीय ऊर्जा में परिवर्तन की वास्तविक लागत, चारे की कमी और स्मार्टफोन की लत के महत्वपूर्ण प्रभाव शामिल हैं।

Each (Sub) of these (Obj) merits (Present Simple) attention (Obj), and the Survey (Sub) has done (Present Perfect) its job (Obj) well (Adv) by highlighting (Gerund) them (Obj).

Summary: All these issues warrant serious consideration, and the Survey has effectively fulfilled its role by bringing them to the forefront.
सारांश: इन सभी मुद्दों पर गंभीर विचार की आवश्यकता है, और सर्वेक्षण ने उन्हें सबसे आगे लाकर अपनी भूमिका प्रभावी ढंग से निभाई है।

Important Vocabulary

Level-headed
Meaning: Calm and sensible; able to make good judgments.
हिन्दी अर्थ: संतुलित, विवेकशील
Synonyms: sensible, composed, balanced
Antonyms: excitable, irrational, impulsive
Example: Her level-headed response prevented a crisis.
Phrasal Verb: N/A
Eschewing
Meaning: Deliberately avoiding or abstaining from.
हिन्दी अर्थ: त्याग करना, परहेज करना
Synonyms: avoiding, shunning, abstaining from
Antonyms: embracing, adopting, seeking
Example: He is eschewing social media for a month.
Phrasal Verb: N/A
In flux
Meaning: In a state of continuous change or movement.
हिन्दी अर्थ: परिवर्तनशील अवस्था में, अस्थिर
Synonyms: changing, unstable, in transition
Antonyms: stable, constant, fixed
Example: The company’s future plans are still in flux.
Phrasal Verb: N/A
Agile
Meaning: Able to move quickly and easily; able to think and understand quickly.
हिन्दी अर्थ: फुर्तीला, चुस्त, तेज
Synonyms: nimble, quick, alert
Antonyms: sluggish, slow, clumsy
Example: An agile mind is essential for problem-solving.
Phrasal Verb: N/A
Turbulent
Meaning: Characterized by conflict, disorder, or confusion; not stable.
हिन्दी अर्थ: अशांत, उग्र, अव्यवस्थित
Synonyms: chaotic, stormy, unstable
Antonyms: calm, peaceful, stable
Example: The country went through a turbulent political period.
Phrasal Verb: N/A
Depreciation
Meaning: A reduction in the value of an asset or currency over time.
हिन्दी अर्थ: मूल्यह्रास, अवमूल्यन
Synonyms: devaluation, decline, reduction
Antonyms: appreciation, increase, rise
Example: The rapid depreciation of the currency hurt importers.
Phrasal Verb: N/A
Safe-haven
Meaning: A place or investment considered safe during times of market turbulence.
हिन्दी अर्थ: सुरक्षित आश्रय, सुरक्षित निवेश
Synonyms: refuge, shelter, secure asset
Antonyms: risky asset, volatile investment
Example: Gold is often considered a safe-haven asset.
Phrasal Verb: N/A
Resilience
Meaning: The ability to recover quickly from difficulties; toughness.
हिन्दी अर्थ: लचीलापन, सहनशीलता
Synonyms: toughness, endurance, robustness
Antonyms: fragility, vulnerability, weakness
Example: The community showed great resilience after the flood.
Phrasal Verb: N/A
Indispensability
Meaning: The quality of being absolutely necessary.
हिन्दी अर्थ: अनिवार्यता, अपरिहार्यता
Synonyms: necessity, essentiality, cruciality
Antonyms: dispensability, unimportance, irrelevance
Example: The indispensability of clean water for life is undeniable.
Phrasal Verb: N/A
Populism
Meaning: Political ideas and activities that are intended to get the support of ordinary people by giving them what they want.
हिन्दी अर्थ: जनवाद, लोकलुभावनवाद
Synonyms: demagoguery, popularism
Antonyms: elitism, statesmanship
Example: Fiscal populism often leads to unsustainable debt.
Phrasal Verb: N/A
Merits (Verb)
Meaning: Deserves or is worthy of (attention, consideration, etc.).
हिन्दी अर्थ: पात्र होना, योग्य होना
Synonyms: deserves, warrants, justifies
Antonyms: warrants no, doesn’t deserve
Example: His suggestion merits serious discussion.
Phrasal Verb: N/A

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Source: The Hindu Newspaper – Link

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