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Daily The Economic Times Editorial With Vocabulary in Detail : Let GSTN function as a private company

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The finance ministry reportedly wants to convert the Goods and Services Tax Network (GSTN), a private company that manages the indirect tax infrastructure, into a government company to ostensibly(जाहिरा तौर पर) protect sensitive(संवेदनशील)data.This is a bad idea. A change in ownership structure(निर्माण/ढांचा) does not reduce(अधीन करना/छोटा करना) the vulnerability(आलोचनीयता) of the network to cyberattacks. Data showed that 114 government websites were hacked during April 2017 to January 2018.Recently, a French security researcher shared how he hacked BSNL’s website, and got hold of details of its employees, and the state-owned telco acknowledged this. Last week, the defence ministry and many other government websites faced downtime, though the government rejected cyberattacks.It is technology, systems and safety protocols that will protect critical networks against cyberattacks, not state ownership.

GSTN was set up as a private company: non-government financial institutions hold 51% equity and the balance 49% is with the government. The idea was to give the company operational freedom to run the network — in which tax receipts and input tax credit claims are uploaded and processed to reconcile(समाधान करना/स्वीकार करना) claims and spot tax liability(आर्थिक दायित्व) — efficiently(कुशलतापूर्वक।).The system needs constant upgradation and maintenance. It makes sense to let the GSTN operate as a private company that is capable(सक्षम) of buying services and hardware fast so that the critical system is not held hostage to time-consuming rules of government procurement that mandate purchases at the lowest-quoted price, or L1.The government exercises strategic(महत्वपूर्ण/रणनीति-संबंधी) control, but the company is free from public sector speed breakers such as audit by the CAG, and complaints to the Vigilance(जागरूकता/सतर्कता) Commission. It is also free to hire professionals laterally and pay market-linked salaries. Keep it as it is.

Important Vocabulary

1.Vulnerability(आलोचनीयता)
Synonyms: susceptibility, accountability, amenability,  blame
Antonyms: aid, asset, help, irresponsibility

2.Reduce(अधीन करना/छोटा करना)
Synonyms: curtail, cut, cut down, diminish, dwindle
Antonyms: compliment, develop, enlarge, expand, extend

3.Liability(आर्थिक दायित्व)
Synonyms: accountability, burden, culpability, debt, duty
Antonyms: asset, irresponsibility, accountability

4.Reconcile(समाधान करना/स्वीकार करना)
Synonyms: accommodate, appease, assuage, conform, coordinate
Antonyms: agitate, fight, incite, irritate, mismatch

5.Vigilance(जागरूकता/सतर्कता
Synonyms: alertness, caution, diligence, surveillance, acuity
Antonyms: indiffere, nceneglect, carelessness, impulsiveness, indiscretion

 

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