Glossary A–Z.

A

AdaptationAdjusting to the effects of climate change, for example by building sea walls or growing drought-resistant crops.AffidavitA written statement sworn to be true, which can be used as evidence. Election candidates in India must file one listing their assets and criminal cases.Air Quality IndexIndia’s scale for reporting air pollution, from 0 to 500, in six bands from “good” to “severe”. It is based on up to eight pollutants, including PM2.5, PM10 and ozone.AlgorithmA step-by-step set of instructions a computer follows to solve a problem or make a decision.Anonymous sourceA source whose name is withheld, usually because they could be harmed. Responsible newsrooms use them sparingly and explain why.Anti-defection lawThe Tenth Schedule of the Constitution, added in 1985, which allows legislators who give up their party membership or defy its whip to be disqualified. A merger backed…Anti-incumbencyVoters’ tendency to turn against the party or politician in power, often blamed when governments lose re-election.Anticipatory bailBail granted by a court before an arrest, to a person who fears being arrested.Antimicrobial resistanceWhen bacteria, viruses, fungi or parasites evolve so that the medicines used against them stop working. Overuse of antibiotics speeds it up.ArbitrationSettling a dispute privately through an arbitrator whose decision both sides agree to accept, instead of going to court.Article 32The article of the Constitution that lets anyone go directly to the Supreme Court to enforce a fundamental right. B. R. Ambedkar called it the “heart and soul” of the…Article 370The article that gave Jammu and Kashmir special status. It was made inoperative in August 2019, and the Supreme Court upheld that decision in December 2023.Artificial intelligenceComputer systems that perform tasks normally needing human intelligence, such as understanding language, recognising images or making predictions. How we use AI tools is…AsylumProtection given by a country to someone fleeing persecution in their own.AttributionSaying where a piece of information comes from — “according to the RBI”, “the police said” — so readers can judge it.

B

BailThe release of an accused person while their case continues, sometimes on conditions or against a guarantee that they will appear in court.Balance of paymentsThe record of all a country’s transactions with the rest of the world over a period: trade, income, transfers and flows of investment and loans.Basic structure doctrineThe principle, set out by the Supreme Court in the Kesavananda Bharati case in 1973, that Parliament can amend the Constitution but cannot destroy its basic features…Basis pointOne hundredth of a percentage point (0.01%). Central banks and markets use it to describe small changes in interest rates: a rise of 25 basis points takes a rate from…Bear marketA sustained fall in share prices, commonly defined as a drop of 20% or more from a recent peak.Bharatiya Nagarik Suraksha SanhitaThe law of criminal procedure — arrest, investigation, bail and trial — that replaced the Code of Criminal Procedure on 1 July 2024.Bharatiya Nyaya SanhitaIndia’s criminal code, which replaced the Indian Penal Code on 1 July 2024. On the same day the Bharatiya Nagarik Suraksha Sanhita replaced the Code of Criminal…Bharatiya Sakshya AdhiniyamThe law of evidence that replaced the Indian Evidence Act, 1872, on 1 July 2024.BilateralBetween two countries, as in a bilateral treaty or a bilateral meeting.BiodiversityThe variety of life — species, the genes within them and the ecosystems they form.Black holeA region of space where gravity is so strong that nothing, not even light, can escape.Blue-chipShares of large, established and financially strong companies.BondA loan to a government or company that pays interest (the coupon) and returns the money on a set date.Bond yieldThe return an investor earns on a bond, shown as an annual percentage. Yields move in the opposite direction to bond prices: when investors sell bonds, prices fall and…Breaking newsNews of an event that is happening now or has just happened, reported as details come in.Brent crudeOil from the North Sea whose price is a global benchmark for much of the world’s internationally traded crude.BrexitThe United Kingdom’s departure from the European Union, which took effect on 31 January 2020.BRICSA group of major emerging economies founded by Brazil, Russia, India and China, with South Africa admitted at the end of 2010. It began admitting more members in 2024.Bull marketA long period in which share prices rise and investors are confident.By-electionAn election held to fill a seat that falls vacant between general elections, for example after a death or resignation. In India it must normally be held within six…BylineThe line on a story that names who wrote it. Ours link to a profile page, and our correspondents’ press cards can be checked on our verification page.

C

CabinetThe senior ministers who head the most important ministries and take the main decisions of government, led by the Prime Minister.Capital expenditureGovernment spending that creates lasting assets, such as roads, railways and power lines, as opposed to revenue expenditure on salaries, interest and subsidies.Carbon dioxide removalTaking carbon dioxide out of the atmosphere and storing it — through forests and soils, or with technologies such as direct air capture.Carbon footprintThe total greenhouse gases caused by a person, product, company or country, usually given in tonnes of carbon dioxide equivalent.Carbon marketA system for trading permits or credits that each represent one tonne of carbon dioxide (or equivalent) not emitted or removed. India notified its own Carbon Credit…Caretaker governmentA government that stays in office temporarily, usually with limited powers, until a new one is formed after an election.Cash reserve ratioThe share of their deposits that banks must keep as cash with the Reserve Bank of India, earning no interest. Changing it is one way the RBI adjusts the money available…CeasefireAn agreement to stop fighting, which may be temporary, local or a step towards a wider peace deal.CensusA count of every person in a country. India’s census is normally held every ten years; the one due in 2021 was postponed, and the next has a reference date of 1 March…ChargesheetThe final report the police file in court after an investigation, setting out the evidence and the charges against the accused.Chief MinisterThe head of a state government. The chief minister is appointed by the governor, must have the support of a majority in the assembly and leads the state council of…Circuit breakerAn automatic pause in trading when prices move too far, too fast. Indian exchanges halt the whole market if the Sensex or Nifty moves 10%, 15% or 20% in a day.ClickbaitHeadlines or images designed to make people click rather than to inform them, often by exaggerating or holding back the point of the story.Climate changeLong-term change in temperatures and weather patterns. Since the 1800s the main driver has been human activity, above all burning coal, oil and gas.Clinical trialA study testing a medicine or treatment in people, usually in phases: small safety tests first, then larger trials of whether it works.Coalition governmentA government formed by two or more parties, usually because no single party has won a majority on its own.Cognisable offenceAn offence for which the police can register a case and arrest without a magistrate’s warrant, usually a serious one.CollegiumThe group of the Chief Justice of India and the senior-most Supreme Court judges that recommends appointments of judges to the Supreme Court and High Courts.Compound interestInterest earned on both the original amount and the interest already added. Over long periods it makes savings — and debts — grow much faster than simple interest.ConstituencyAn area whose voters elect one representative. India is divided into 543 Lok Sabha constituencies, and each state into assembly constituencies.Constitution of IndiaThe supreme law of India. It was adopted on 26 November 1949 (now Constitution Day) and came into force on 26 January 1950 (Republic Day).Consumer commissionThe courts for consumer complaints under the Consumer Protection Act, 2019, at district, state and national level.Consumer Price IndexAn index that tracks the prices of a fixed basket of goods and services bought by households, from food and fuel to rent and school fees. India’s CPI is compiled by the…Contempt of courtDisobeying a court’s orders (civil contempt) or acting in a way that scandalises or lowers the authority of a court or interferes with justice (criminal contempt). In…COPConference of the Parties: the annual summit of the countries that have joined the UN Framework Convention on Climate Change.Core inflationInflation excluding the prices of food and fuel, which swing sharply. Central banks watch it to see the underlying trend.CorrectionA published notice that fixes a factual error in a story, saying what was wrong and what is right.Council of MinistersThe Prime Minister and all the ministers of the Union government (or the chief minister and ministers in a state). Under the Constitution it is collectively responsible…Credit ratingAn agency’s assessment of how likely a borrower — a company or a government — is to repay its debts. Lower ratings usually mean higher borrowing costs.CryptocurrencyDigital money that is created and transferred using cryptography and recorded on a shared ledger (a blockchain), rather than issued by a central bank.Curative petitionA last chance to ask the Supreme Court to reconsider its own final judgment after a review petition has failed, allowed only in rare cases.Current account deficitWhen a country pays the rest of the world more for imports of goods and services, interest and transfers than it earns from it. It has to be financed by money flowing…CycloneA large storm system rotating around an area of low pressure. In the north Indian Ocean, storms are named from a list contributed by the countries of the region.

D

DatelineThe place a story was reported from, shown at its start — for example “Jerusalem” or “Mumbai”.DeepfakeVideo, audio or images generated or altered with artificial intelligence to make a real person appear to say or do something they did not.DefamationHarming someone’s reputation with false statements. In India it is both a civil wrong, for which damages can be claimed, and a criminal offence under Section 356 of the…DeflationA sustained fall in the general level of prices. It sounds good but can hurt an economy, because people delay buying and debts become harder to repay.DelimitationRedrawing the boundaries of constituencies to reflect population. In India the number of Lok Sabha seats for each state has been frozen on the basis of the 1971 census…Demat accountAn account that holds shares and other securities electronically. Indian investors need one to buy and hold listed shares.DepreciationA fall in the value of a currency against other currencies. A weaker rupee makes imports such as oil and electronics dearer, and Indian exports cheaper abroad.Diplomatic immunityProtection for diplomats from arrest and most lawsuits in the country where they serve, set out in the Vienna Convention on Diplomatic Relations of 1961.Direct benefit transferPaying subsidies and welfare money straight into beneficiaries’ bank accounts instead of through intermediaries. India began rolling it out in 2013.Direct taxA tax paid directly by the person or company it is levied on, such as income tax or corporate tax.Directive Principles of State PolicyThe goals for government set out in Part IV of the Constitution, such as a living wage and free legal aid. They guide law-making but cannot be enforced in court.DisinflationA slowdown in the rate of inflation: prices are still rising, but more slowly.DisinformationFalse information created or spread deliberately to deceive, often for political or financial gain.DisinvestmentThe sale by the government of some or all of its shares in a state-owned company.DividendA share of a company’s profit paid out to its shareholders.DovishDescribes a central banker or policy that leans towards lower interest rates to support growth and jobs, accepting a little more inflation.DPDP ActThe Digital Personal Data Protection Act, 2023: India’s law on how organisations may collect and use people’s personal data, with consent as its basis and a Data…

E

Echo chamberAn environment, often online, where people mostly see opinions that match their own, which reinforces them.EditorialAn article giving the publication’s own opinion, usually unsigned. It is kept separate from news reporting.El NiñoA periodic warming of surface waters in the central and eastern tropical Pacific that shifts weather around the world. It is often linked to weaker monsoon rains in…Electoral CollegeThe body that formally elects the US president: 538 electors allocated among the states, with 270 needed to win.Electoral rollThe official list of people entitled to vote in a constituency. In India it is prepared and revised by the Election Commission; only people on the roll can vote.Electric vehicleA vehicle driven by an electric motor running on a battery, which produces no exhaust fumes on the road.EmbargoA request from a source that information is not published before a stated date and time. Reports, results and speeches are often shared with journalists in advance under…Emissions gapThe difference between where greenhouse gas emissions are heading and where they need to be to meet the Paris Agreement’s temperature goals. The UN Environment Programme…End-to-end encryptionScrambling a message so that only the sender and the recipient can read it — not even the service carrying it.EndemicA disease that is constantly present in a region at a fairly predictable level, unlike an epidemic, which is a sudden rise.EurozoneThe European Union countries that use the euro, whose interest rates are set by the European Central Bank.EVMElectronic voting machine, used in Indian elections since the early 2000s for all seats. A VVPAT unit attached to it prints a slip showing the voter’s choice, visible…Exchange-traded fundA fund that holds a basket of assets — often an index or gold — and is bought and sold on a stock exchange like a share.Exclusive economic zoneThe sea up to 200 nautical miles from a country’s coast, where it has the rights to fish and to extract oil, gas and minerals, under the UN Convention on the Law of the…Exit pollA survey of voters as they leave polling stations, used to predict a result before the count. In India, exit polls cannot be published until the last phase of voting is…ExoplanetA planet that orbits a star other than the Sun.Expense ratioThe yearly fee a mutual fund charges, as a percentage of the money invested. It is taken out of the fund’s returns.

F

Fact-checkA check of a public claim against the evidence, ending with a clear verdict. Our method is set out on our fact-check methodology page.FederalismA system in which power is shared between a national government and regional governments. India’s Constitution divides powers between the Union and the states in three…FilibusterA tactic in the US Senate for delaying or blocking a vote by prolonging debate. Ending it on most legislation needs 60 of the 100 votes.Financial yearThe twelve months a government or company uses for its accounts. In India it runs from 1 April to 31 March, so “2026–27” means April 2026 to March 2027.FIRFirst Information Report: the written record police make when they receive information about a cognisable offence — one for which they can arrest without a warrant…First past the postAn electoral system in which the candidate with the most votes in a constituency wins, even without a majority. It is used for elections to the Lok Sabha and the state…Fiscal deficitThe gap between what a government spends and what it receives in a year, not counting borrowing. In effect, it is how much the government has to borrow.Fiscal policyA government’s decisions on taxes and public spending, and therefore on how much it needs to borrow.Floor testA vote in the legislature to show whether a government has majority support. Courts often order one when that support is in doubt.Foreign direct investmentInvestment by a foreign company or person that gives lasting control or a significant stake in a business, such as building a factory. It differs from portfolio…Foreign exchange reservesForeign currencies, gold and other assets held by a central bank. They pay for imports in an emergency and let the central bank sell dollars to slow a fall in its own…Foreign portfolio investorAn investor from abroad who buys Indian shares, bonds or other financial assets without taking control of the companies. Their buying and selling can move both the…Free trade agreementA treaty in which countries cut or remove tariffs and other barriers on trade with each other.Fundamental DutiesA list of citizens’ duties in Article 51A of the Constitution, such as respecting the Constitution and protecting the environment. They were added in 1976.Fundamental RightsThe rights in Part III of the Constitution, such as equality, free speech, life and personal liberty, and religious freedom. They can be enforced in court.Futures and optionsDerivative contracts whose value depends on a share, an index or a commodity. They are used to hedge and to speculate; SEBI studies have found that most individual…

G

G20The Group of Twenty: 19 countries plus the European Union and the African Union, which joined in 2023. Its members account for most of the world’s economic output.G7The Group of Seven large democratic economies: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The European Union also takes part.GDPGross domestic product: the total value of all the final goods and services produced within a country in a given period, usually a quarter or a year. It is the most…Gene editingChanging the DNA of a living thing at a precise place, most often with the CRISPR technique.Generative AIAI systems that produce new text, images, audio or video in response to a prompt, such as chatbots built on large language models.Geneva ConventionsFour treaties agreed in 1949, with later additional protocols, that set the basic rules of war — protecting civilians, the wounded, medical workers and prisoners of war.GenocideActs committed with intent to destroy, in whole or in part, a national, ethnic, racial or religious group, as defined in the UN Genocide Convention of 1948.GenomeThe complete set of genetic instructions in an organism, written in its DNA.Geostationary orbitAn orbit about 35,786 km above the equator in which a satellite circles at the same speed as the Earth turns, so it stays over one spot. Used for communications and…Gini coefficientA measure of inequality from 0 (everyone has the same income or wealth) to 1, or 100 (one person has everything).Glacier mass balanceThe difference between the snow and ice a glacier gains in a year and the ice it loses. A negative balance means the glacier is shrinking; see the chart in our data hub.Global SouthA loose term for the developing and emerging countries of Africa, Asia, Latin America and the Pacific.Global warmingThe rise in the Earth’s average surface temperature since pre-industrial times, caused mainly by greenhouse gases from human activity.Government securitiesBonds and bills issued by the Union and state governments to borrow money, often called G-secs. In India they are issued through the Reserve Bank of India.GovernorThe constitutional head of an Indian state, appointed by the President. A governor appoints the chief minister, gives assent to state bills or reserves them for the…Green hydrogenHydrogen made by splitting water with electricity from renewable sources, so that producing it releases almost no carbon dioxide.Greenhouse gasA gas that traps heat in the atmosphere, such as carbon dioxide, methane and nitrous oxide. Burning coal, oil and gas is the biggest source of the increase since the…Gross value addedThe value of output minus the cost of the goods and services used to produce it. GVA shows which sectors — farming, industry, services — are driving growth; GDP is GVA…GSTGoods and Services Tax: India’s tax on the supply of goods and services, introduced on 1 July 2017 in place of a long list of central and state taxes. Within a state it…

H

Habeas corpusLatin for “you may have the body”: a court order that a detained person be brought before it, so the court can decide whether the detention is lawful.HawkishDescribes a central banker or policy that leans towards higher interest rates to bring inflation down, even at some cost to growth.HeadlineThe title of a story. A good one is accurate and is supported by the story beneath it.HeatwaveA spell of abnormally hot weather. In the plains the India Meteorological Department declares one when the maximum temperature is at least 40°C and well above normal, or…HedgeAn investment made to reduce the risk of losses on another — for example an exporter locking in an exchange rate.Herd immunityProtection of a whole community from an infection because enough people are immune that it cannot spread easily.High CommissionWhat an embassy is called when one Commonwealth country is represented in another; it is headed by a high commissioner.Hung parliamentA parliament in which no party or bloc has an overall majority, so a government can only be formed by a coalition or with outside support.

I

IAEAThe International Atomic Energy Agency, the UN-linked nuclear watchdog based in Vienna. It promotes the peaceful use of nuclear energy and inspects countries’ nuclear…Index fundA mutual fund that simply copies a market index such as the Nifty 50, usually at a low cost.Index of Industrial ProductionA monthly index of the output of mining, manufacturing and electricity, published in India by the National Statistics Office.Indirect taxA tax collected by a seller and passed on to the buyer in the price, such as GST or customs duty.InflationThe rate at which the general level of prices rises, usually measured over twelve months. If inflation is 5%, something that cost ₹100 a year ago costs about ₹105 today…Insolvency and Bankruptcy CodeThe 2016 law that sets a time-bound process for rescuing or winding up companies that cannot pay their debts.International Court of JusticeThe United Nations’ principal court, in The Hague. Its 15 judges settle legal disputes between states and give advisory opinions.International Criminal CourtA permanent court in The Hague that tries individuals for genocide, crimes against humanity, war crimes and the crime of aggression. India is not a party to the Rome…IPOInitial public offering: the first sale of a company’s shares to the public, after which its shares trade on a stock exchange.

J

Joint sittingA sitting of both houses of Parliament together, called by the President under Article 108 to settle a deadlock over an ordinary bill. The Speaker presides. It cannot be…Judicial reviewThe power of the courts to strike down laws and government actions that violate the Constitution.

K

KnessetIsrael’s single-chamber parliament, with 120 members elected by nationwide proportional representation. A party needs 3.25% of the vote to win seats.

L

Large language modelAn artificial-intelligence system trained on very large amounts of text to predict and generate language. Chatbots are built on them; they can write fluently and still…Lateral readingChecking a claim or website by opening other sources about it, instead of judging it only by how it looks.Leader of the OppositionThe leader of the largest opposition party in a house. By convention in the Lok Sabha, the party needs at least a tenth of the seats for the post to be recognised.LedeThe opening sentence or paragraph of a news story, which gives the most important facts.Light-yearThe distance light travels in a year — about 9.46 trillion km. It measures distance, not time.LiquidityHow much money is readily available in the banking system — or, for an asset, how quickly it can be sold without a big loss.Lok AdalatA “people’s court” that settles disputes by agreement, quickly and without fees. Its awards are final and binding.Lok SabhaThe lower, directly elected house of India’s Parliament. Its 543 members are elected from single-member constituencies for up to five years, and the government must keep…Long-term capital gains taxTax on the profit from selling an asset held for longer than a set period. For listed shares and equity mutual funds in India, a holding counts as long-term after more…Loss and damageHarm from climate change that cannot be avoided by adaptation. A fund to help vulnerable countries was agreed at COP27 in 2022 and set up at COP28 in 2023.Low Earth orbitOrbits up to about 2,000 km above the Earth’s surface, where the International Space Station and most satellites fly.

M

Machine learningA branch of artificial intelligence in which computers learn patterns from data instead of being given explicit rules.ManifestoA party’s published programme: what it promises to do if elected.Marginal standing facilityThe RBI window where banks can borrow overnight in an emergency, at a rate above the repo rate. Its rate is the ceiling of the interest-rate corridor.Market capitalisationThe total stock-market value of a company: its share price multiplied by the number of shares in issue.Midterm electionsUS federal elections held halfway through a president’s four-year term. All 435 seats in the House of Representatives and about a third of the 100 Senate seats are…Minimum support priceThe price at which the government offers to buy a crop from farmers, announced for 22 crops on the advice of the Commission for Agricultural Costs and Prices.MisinformationFalse or misleading information that is shared without an intention to deceive — for example, a mistaken rumour passed on in good faith.MitigationCutting the greenhouse gas emissions that cause climate change, or removing gases from the air.Model Code of ConductThe Election Commission of India’s rules for parties, candidates and governments during an election. It applies from the announcement of the poll schedule until the…Monetary policyWhat a central bank does with interest rates and the supply of money to keep inflation under control and support growth and jobs.Monetary Policy CommitteeThe six-member panel that sets the Reserve Bank of India’s repo rate: three members from the RBI, including the Governor, and three external members appointed by the…Money billUnder Article 110 of the Constitution, a bill that deals only with taxes, government borrowing and spending from the Consolidated Fund. It can be introduced only in the…MonsoonThe seasonal reversal of winds that brings most of India’s rain. The south-west monsoon normally runs from June to September; parts of the south-east also get rain from…Most favoured nationThe WTO principle that a country must offer all members the same trade terms it gives its best trading partner, with exceptions such as free trade agreements.mRNA vaccineA vaccine that delivers messenger RNA instructing the body’s cells to make a harmless piece of a germ’s protein, which trains the immune system to recognise it.MultilateralismCountries working together through international organisations and agreements, rather than alone or two at a time.Municipal corporationThe elected local government of a large city, headed by a mayor. The 74th Amendment to the Constitution set the framework for urban local bodies.Mutual fundA fund that pools money from many investors and invests it in shares, bonds or other assets, run by a professional manager. Each investor owns units whose value rises…

N

NATOThe North Atlantic Treaty Organization, a military alliance of North American and European countries founded in 1949. Under Article 5, an armed attack on one member is…NavICIndia’s own satellite navigation system, built by ISRO, covering India and the region around it.NDCNationally determined contribution: each country’s climate plan under the Paris Agreement, setting out how it will cut emissions and adapt. Countries are expected to…Net asset valueThe value of one unit of a mutual fund: the fund’s assets minus its liabilities, divided by the number of units.Net zeroThe point at which the greenhouse gases a country or company emits are balanced by those it removes from the atmosphere. India’s target year is 2070.NeutrinoA subatomic particle with almost no mass and no electric charge that passes through ordinary matter almost without trace, which makes it extremely hard to detect.News agencyAn organisation that gathers news and supplies it to other media, such as PTI, Reuters, the Associated Press and AFP.Nifty 50The National Stock Exchange’s benchmark index of 50 large Indian companies across sectors.No-confidence motionA motion in the Lok Sabha (or a state assembly) that the house has no confidence in the government. If it passes, the government must resign. In the Lok Sabha it needs…Nobel PrizeAnnual prizes for physics, chemistry, physiology or medicine, literature and peace, set up under the will of Alfred Nobel; a prize in economic sciences was added by…Non-Aligned MovementA group of countries, founded in Belgrade in 1961 with India among its leaders, that chose not to join either bloc in the Cold War.Non-performing assetA bank loan on which interest or repayment has been overdue for more than 90 days.NOTA“None of the above”: the last option on an Indian voting machine, for voters who want to reject every candidate. It was introduced after a Supreme Court judgment in…

O

Off the recordAn agreement that information given to a journalist will not be published or attributed. Journalists and sources should agree exactly what the term means before the…Op-edAn opinion article by a named writer who is not one of the publication’s editors — originally the page “opposite the editorial” page.OptogeneticsA technique that uses light to switch nerve cells on or off, after the cells have been genetically modified to make light-sensitive proteins.OrdinanceA law made by the President (Article 123) or a state Governor (Article 213) when the legislature is not in session. It lapses unless the legislature approves it within…OSINTOpen-source intelligence: facts gathered from publicly available material, such as satellite images, videos and public records.OvershootTemporarily exceeding a temperature limit such as 1.5°C and then bringing warming back below it by removing carbon dioxide from the atmosphere.Ozone layerThe layer of the upper atmosphere that absorbs most of the Sun’s harmful ultraviolet rays. The Montreal Protocol of 1987 phased out the chemicals damaging it.

P

Panchayati RajIndia’s system of rural local government, usually in three tiers: village, block and district. The 73rd Amendment to the Constitution gave panchayats constitutional…PandemicAn epidemic that spreads across several countries or continents and affects large numbers of people. An epidemic is a sudden rise in cases in one area.Paris AgreementThe 2015 climate treaty under which countries agreed to hold global warming well below 2°C above pre-industrial levels and to pursue efforts to limit it to 1.5°C.Parliamentary committeeA small group of members that examines bills, spending or policy in detail. Examples include the Public Accounts Committee, which scrutinises the auditor’s reports, and…Parts per millionA measure of concentration: the number of molecules of a gas in every million molecules of air. It is the usual unit for carbon dioxide in the atmosphere.PaywallA system that limits access to some or all of a publication’s journalism to paying subscribers.PeacekeepingDeploying troops and police under the UN flag, with the consent of the parties, to keep a ceasefire and protect civilians. India has long been one of the largest…Peer reviewChecking of a scientific paper by independent experts before a journal publishes it. It reduces errors but does not guarantee a finding is right.Per capita incomeA country’s income divided by its population: a rough measure of average living standards that says nothing about how income is shared.Periodic Labour Force SurveyIndia’s official survey of employment and unemployment, run by the National Statistics Office.Persona non grataA diplomat a host country declares unwelcome, who must then leave.PhishingA scam in which a message pretends to come from a bank, a company or an official to trick you into giving away passwords, OTPs or money.PlaceboA dummy treatment with no active ingredient, used in trials to compare against the real one.PM2.5Particulate matter 2.5 micrometres across or smaller — about thirty times thinner than a human hair — which can travel deep into the lungs and the bloodstream.President’s RuleDirect rule of a state by the central government under Article 356 of the Constitution, when the state government cannot be carried on in line with the Constitution.Press freedomThe freedom of journalists to report and publish without censorship or fear. In India it is protected as part of the freedom of speech in Article 19 of the Constitution.Press releaseAn official statement issued to the media by a government, company or organisation. Our official-releases section reproduces some, with credit, where the publisher…Prevention of Money Laundering ActThe 2002 law against disguising the proceeds of crime as legitimate money. The Directorate of Enforcement investigates cases under it.Price-to-earnings ratioA company’s share price divided by its earnings per share — a common, rough gauge of whether a share is cheap or expensive.Primary sourceOriginal evidence: a document, data, a recording or a first-hand witness, as opposed to someone else’s account of it.Private member’s billA bill introduced by a member of Parliament who is not a minister. Few become law.Proportional representationAny electoral system that gives parties or candidates seats roughly in proportion to the votes they win. In India it is used, through the single transferable vote, to…Public interest litigationA case filed in court to protect the public interest — for example over pollution or the rights of prisoners. In India any citizen can bring one, even if they are not…Public sector undertakingA company in which the Union or a state government holds a majority stake.Purchasing managers’ indexA monthly survey-based indicator of business conditions. A reading above 50 means activity is expanding; below 50 means it is shrinking.Purchasing power parityA way of comparing incomes and economies that adjusts for differences in prices between countries — a rupee buys more in India than its dollar exchange rate suggests.

Q

QuadThe Quadrilateral Security Dialogue of Australia, India, Japan and the United States.Quantitative easingWhen a central bank creates money to buy government bonds and other assets on a large scale, to push down long-term interest rates once short-term rates are already very…Quantum computingComputing that uses quantum bits, which can be in a mix of states at once, to tackle some problems far faster than ordinary computers.Question HourUsually the first hour of a sitting of Parliament, when members ask ministers questions and ministers must answer.

R

Rajya SabhaThe upper house of India’s Parliament, the Council of States. Most members are elected by the state and union-territory legislatures for six-year terms, a third retiring…RatificationThe formal step by which a country agrees to be bound by a treaty it has signed.Readers’ editorAn editor who handles readers’ complaints independently and can publish findings about the newsroom’s own mistakes.Real GDPGDP adjusted for inflation, so that it shows the change in the volume of goods and services rather than in prices. Growth rates are normally quoted in real terms.Real returnThe return on an investment after subtracting inflation. A 7% return with 5% inflation is a real return of about 2%.RecessionA significant fall in economic activity that lasts more than a few months. A common rule of thumb is two quarters in a row in which GDP shrinks.ReferendumA direct vote by citizens on a single question, such as a constitutional change. India’s Constitution has no provision for a national referendum.RefugeeA person forced to flee their country because of persecution, war or violence, as defined by the 1951 Refugee Convention. India is not a party to that convention.RemittancesMoney sent home by people working in another country. India has for many years been the world’s largest recipient, according to the World Bank.Renewable energyEnergy from sources that are naturally replenished, such as sunlight, wind, flowing water and biomass.Repo rateThe interest rate at which a central bank lends short-term money to commercial banks against government securities. In India it is the Reserve Bank of India’s main…Reserved constituencyA seat where only candidates from a Scheduled Caste or Scheduled Tribe can stand. Every voter in the constituency still votes.RetractionThe withdrawal of a whole story because it was fundamentally wrong or could not be stood behind.Reverse image searchSearching the web with a picture instead of words, to find where else it appeared and when — a basic way to check whether a photo is old or out of context.Reverse repo rateThe rate at which the Reserve Bank of India absorbs surplus money from banks. Since April 2022 the standing deposit facility (SDF) has taken its place as the floor of…Right of replyThe principle that people criticised in a story should be given a fair chance to respond.Right to InformationThe right of every Indian citizen, under the RTI Act 2005, to ask public authorities for information. They must generally reply within 30 days, or within 48 hours where…

S

SanctionsPenalties — such as trade bans, asset freezes and travel bans — that countries or international bodies impose on another country, a company or a person to change their…SatireHumour that exaggerates to make a point. Satire shared out of context is a common source of misinformation.Schengen AreaA group of European countries that have abolished passport checks at their shared borders.SEBIThe Securities and Exchange Board of India, the regulator of India’s stock, bond and commodity markets. It was set up in 1988 and given statutory powers in 1992.SeditionThe old offence of exciting disaffection against the government, in Section 124A of the Indian Penal Code. The Supreme Court put it on hold in 2022, and the Bharatiya…SemiconductorA material, usually silicon, whose ability to conduct electricity can be controlled. Chips made from semiconductors power almost every electronic device.SensexThe benchmark index of BSE (formerly the Bombay Stock Exchange), made up of 30 large, actively traded companies. Its daily moves are the most quoted measure of the…Seventh ScheduleThe part of the Constitution with the three lists of subjects: the Union List (for Parliament), the State List (for the states) and the Concurrent List (for both, with…Short sellingSelling shares you have borrowed in the hope of buying them back later at a lower price and keeping the difference. If the price rises instead, the losses can be large.Simultaneous electionsThe idea of holding Lok Sabha and state assembly elections at the same time, often called “One Nation, One Election”. A constitutional amendment bill to enable it was…Single transferable voteA voting method in which voters rank candidates in order of preference. A candidate who reaches the required quota is elected, and surplus or eliminated votes pass to…SIPSystematic investment plan: investing a fixed amount in a mutual fund at regular intervals, usually every month, instead of a lump sum. Our SIP calculator shows how the…Soft powerA country’s ability to win influence through attraction — its culture, values and ideas — rather than force or money.SovereigntyA state’s supreme authority over its territory and affairs, free from outside control.Space debrisDead satellites, spent rocket stages and fragments left in orbit, which travel fast enough to damage working spacecraft.SpeakerThe presiding officer of the Lok Sabha (or of a state assembly). The Speaker keeps order, decides whether a bill is a money bill and rules on disqualification petitions…Sponsored contentMaterial paid for by an advertiser. It should be clearly labelled so that readers do not mistake it for independent journalism.StablecoinA cryptocurrency designed to keep a steady value, usually by being pegged to the US dollar and backed by reserves.StagflationAn unhappy mix of slow or falling growth, rising unemployment and high inflation — hard to fix, because the usual cure for inflation (higher interest rates) also slows…Standing deposit facilityThe RBI window where banks can park surplus money overnight without the RBI having to give securities in return. Since 2022 its rate has been the floor of the RBI’s…Statutory liquidity ratioThe share of their deposits that Indian banks must hold in safe, liquid assets, mainly government securities.Strait of HormuzThe narrow sea passage between Iran and the Arabian Peninsula — about 33 km wide at its narrowest — and the only sea route out of the Gulf. About a fifth of the world’s…Straw pollIn choosing the UN Secretary-General, an informal secret ballot in which each Security Council member marks every candidate “encourage”, “discourage” or “no opinion”…Stubble burningSetting fire to crop residue left in fields after harvest, a major source of autumn smoke over north India.SubsidyMoney the government spends to make something cheaper, such as food, fertiliser or cooking gas.SwingThe change in a party’s share of the vote from one election to the next, in percentage points.

T

TariffA tax on imported goods, paid by the importer. Governments use tariffs to raise money, protect home industries or put pressure on other countries.TDSTax deducted at source: tax taken out by the payer (an employer or a bank, for example) before the money is paid, and credited to the recipient’s tax account.Trade deficitWhen the value of a country’s imports is greater than the value of its exports.Treasury yieldThe return on US government debt. The yield on the 10-year Treasury note is a benchmark for borrowing costs around the world, including for mortgages and company loans.TreatyA written agreement between states that is binding under international law once it is in force.TribunalA specialised body that decides disputes in one field, such as taxes, company law or the environment.TurnoutThe share of registered voters who actually vote.Two-factor authenticationSigning in with two proofs of identity, such as a password and a code sent to your phone, so that a stolen password alone is not enough.Two-state solutionThe proposal for an independent Palestinian state alongside Israel as the way to end their conflict.

U

UN General AssemblyThe main body of the United Nations, where every member state has one vote. It meets every year from September in New York.UN Secretary-GeneralThe head of the United Nations’ staff and its chief diplomat, appointed by the General Assembly on the recommendation of the Security Council, normally for a five-year…UN Security CouncilThe UN body responsible for international peace and security. It has 15 members: five permanent members with a veto — China, France, Russia, the United Kingdom and the…Unemployment rateThe share of people in the labour force — those working or looking for work — who have no job.Uniform Civil CodeA single set of personal laws on marriage, divorce, inheritance and adoption for all citizens, whatever their religion. Article 44 of the Constitution lists it as a…Union BudgetThe central government’s annual financial statement, required by Article 112 of the Constitution. It sets out tax and spending plans for the financial year that starts…UPIUnified Payments Interface: India’s system for instant payments between bank accounts using a phone, run by the National Payments Corporation of India and launched in…Urban heat islandA city that is noticeably hotter than the countryside around it, because concrete and asphalt store heat and there is less greenery.

V

VetoIn the UN Security Council, the power of each permanent member to block a substantive decision by voting against it.Volatility indexA measure of how much investors expect share prices to swing, worked out from options prices. The US VIX, based on the S&P 500, is often called the “fear gauge”; India…VVPATVoter-verifiable paper audit trail: the printer attached to an EVM that shows each voter a paper slip with their choice before it drops into a sealed box. Slips from a…

W

War crimeA serious breach of the laws of war, such as deliberately attacking civilians or mistreating prisoners.Western disturbanceA weather system that travels east from the Mediterranean region and brings winter rain and snow to north India.Wet-bulb temperatureA measure of heat and humidity together. The higher it is, the harder it is for the body to cool itself by sweating.WhipA party’s formal instruction to its legislators on how to vote, and the party official who enforces it. In India, defying a whip can lead to disqualification under the…Wholesale Price IndexAn index of prices at the wholesale stage — what businesses pay for goods in bulk — before retail margins and taxes are added. In India it is published by the Ministry…WritA formal written order of a court. The Supreme Court (Article 32) and the High Courts (Article 226) can issue five kinds: habeas corpus, mandamus, prohibition…

Y

Yield curveA line showing the interest rates on bonds of different lengths. It normally slopes upward; when short-term rates rise above long-term ones the curve is “inverted”…

Z

Zero HourAn Indian parliamentary practice, not mentioned in the rules, in which members raise urgent matters without notice, usually right after Question Hour.