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TERMINOLOGIES

A

Antipodes : Places that are diametrically opposite to each other.
Alma-mater: Educational institution in which one studied. It means "foster mother"
Acupuncture: A Chinese system of curing by piercing needles at different nerve points in the body.
Apartheid: Racial discrimination.
Atheism: Belief that God does not exist.
Avant Garde: A movement that is innovative.
Abdication: Relinquishing of the throne by a reigning sovereign, either voluntarily or by the demands of the situation. A term that is also generally used.
Ad-hoc: For a special purpose - like an ad-hoc committee, ad-hoc grant etc.,
Armistice: Temporary cessation or suspension of hostilities by mutual content, to start a peace talk.
Asylum: A place for refuge or protection. Also refers to an institution for the mentally ill.

B
Blitzkrieg: German doctrine of operational level military meaning "Lightning War".
Blue Ice: Ice that which is virtually germ free. Natural ice from Greenland.
Ballet: An European theatrical dance.
Bench Mark: Management terminology - identifying level of efficiency for being adopted in other places.
Big Brother: Derisive term for the oppressor in a communist state. A term popularized by George Orwell.
Biomass: The total mass of living organism present in a given area.
Bonapartism: A term for military dictatorship.
Bolshevism: A communist doctrine.
Boxer Rebellion: A peasant uprising in China, against European enchroachments and Christian Missionaries.
Bilateral: A dialogue or agreement or any event between two parties. When it is more than two it is "multilateral".
Brain Drain: Continuous loss of highly intelligent person from one place/country to another.
C
Calvinism: Ethical code, whose basic tenet is that all people are born sinful and only a few selected by God alone can attain salvation
Capitation: Any money collected in excess of the authorized, like the professionally running private colleges collecting extra money for admissions.
Cartel: A group of firms that agree to manipulate the production and sale of a product.
Castroism: The ideas and policies of Fidel Castro, Cuba.
Chaos Theory: A branch of mathematics, which attempts to describe chaotic systems whose behaviour is difficult to predict.
Christian Science: An American religious cult believing in the spiritual healing of the sick by changing and correcting the thoughts of the people.
Cheque Book Journalism: The practice of offering big money to dubious characters for the juicy stories they like to reveal of celebrities.
Circumambulation: Ceremonial walking around an object as a religious belief.
Colonialism: Forceful subjugation of one country by another.
Comintern: "Communist International" - an organization of Communist parties, set up by Lenin in 1919.
Coup d' etat: Forcible taking over the government of a country by elements from within the country.
Crusade: Religious war in Europe against non-christians and heretics. Also used as a general term for any collective action against or for a cause.
D
Dalit Panthers: A militant organization of the "Untouchables" founded in Bombay in 1972 by Namdev Dhasal, Raja Dhale and Arun Kamble. The movement lasted till the 1980s.
Dollar Diplomacy: The US policy of using its economic, political and military strength to promote its national interest at the expense of other countries.
E
Ecumenism: A movement for unity among Christian Churches.
Elitism: Theory that all political system in effect are governed by a minority of influential and dominant people
Ethnicity: People's own sense of cultural identity.
Ecological Balance: Balance of natural elements essential for the survival of living organisms, like oxygen, Water etc.,
F
Fatalism: The belief that lives and events are determined by powers beyond human control.
Fatwa: An inviolable order issued by an Islamic religious head.
Federalism: Governmental system in which power is constitutionally shared by central and regional authorities.
Fetishism: A tribal tradition that considers people or objects as possessors of spirit and therefore worthy of worship.
Feudalism: System in which landlords having vast estates or fields, exercise power.
G
Genetic Engineering: The science of manipulating the DNA to produce desired characteristics in progeny.
Genocide: The policy of systematically exterminating an ethnic group.
Gerrymandering: The rearranging of boundaries of constituency, to give an unfair advantage to ruling party.
Guernica: A term of symbolizing the brutality and meaninglessness of war.
Glasnost: Openness/transparency in Government functions. (Russian term)
H
Harakiri: Ritual belly cutting, practiced by the 'Samurai" military class of feudal Japan, as the honourable method of suicide.
Hedonism: Pursuit of pleasure only that which is unpleasant and intrinsically good.
Historical Materialism: The doctrine on which Karl Marx built his theory of history. Its core tenet is that all history is the result of the interplay of the materialistic factors.
Holocaust: The annihilation of an estimated six million Jews by Hitler's Nazi regime during 1933-1945 in the concentration camps
Human Development Index: Measurement of a Country's socio- economic development.
I
Idealism: A philosophical theory according to which there is no matter in the Universe except as perceived by the mind.
Inquisition: Practised by the Roman Catholic Church in Europe in the medieval period intended to punish heretics.
J
Jacobinism: An extremist philosophy which believes in the rule by terror.
Jihad: Islamic Holy War for the protection and propagation of their religion.
Jingoism: Blind and war mongering patriotism.
Junta: Military rulers of a country after an army take over.
Jizya: A tax on non-islamic community people by the Mughal rulers.
K
Kabuki: Stylysed entertainment in Japan.
Kleptomania: An overpowering desire to possess articles for which one has no need. A kind of stealing.
Ku Klux Klan: A secret organization originated in 1865 as a social club that has become a symbol of white racism in America.
Kuomintang: The first modern political party China that helped to overthrow the Manchy dynasty in 1911, and established the Republic.
Kibitzer: A person who gives unwanted advice.
M
Magna cum Laude: Means graduating with great honour or academic distinction.
Mafia: An Italian term for organized crime syndicate/group.
Marxism: Political theory worked out by Karl Marx for a classless community and society.
O
Occultism: Belief in and use of special powers to understand and control the mysterious.
Ostracism: Deliberate exclusion of an individual or group from the society.
P
Parkinson Law: Management principle according to which work expands to fill the time available for its completion.
Patriarchy: The social organization in which a man heads and controls the family unity.
Prestroika: A policy of economic restructuring (in Russia).
Personality Cult: Practice by which a leader is elevated to a pre-eminent status as an object of mass adulation.
Politburo: The top policy making organ in the Communist Party.
Polyandry: A social system in which a woman has more than one husband at the same time.
Psychokinesis: The power to move things by will power.
Psychosis: A psychological condition created by a disorder in any of the mental functions.
Puritanism: An attitude of extreme austerity and strict discipline in all aspects of life.
Privy Purse: A financial grant extended to erstwhile princes, after independence, in return for their surrender of their states to the Government.
R
Radio Carbon Dating: A scientific method of determining the age of an object made of natural products like wood etc., by calculating the rate of decline of radioactive carbons in the objects.
Reynolds Number: Number used in fluid mechanics to determine whether fluid flow will be turbulent or smooth.
S
Sacred Cow: Any person, action or belief that is considered to be above criticism.
Sanctions: Punitive action, usually in the form of economic blockade, taken by one state/s against another state with a view to enforcing a change of policy.
Semiotics: The theory of signs in communication including the use of a language.
Shintoism: The indigenous Japanese religion.
Sinn Fein: Political wing of the Irish Republican Army.
Spoils System: An American political practice in which, a ruling party uses its power to reward itself and its supporters.
Symbiosis: Any close relationship between organisms of different species, in which each is dependent upon the other and each partner benefits.
T
Tarot Card: A fortune telling system consisting of 78 Cards.
Telepathy: Communication or mind to mind contact between persons.
Transcedental Meditation: Indian spiritual cult in the west founded by Maharish Mahesh Yogi.
Trauma: A painful emotional experience or shock with lasting psychic experiences.
U
Utopianism: A disposition that makes one believe that the ideal society is possible. (The term came to be used from Thomas Moore's book "Utopia").
V
Vihara: Buddhist rest houses for monks.
W
Wakf: Property and funds placed in trust under Islam's tradition of mandatory gift.
West Minster: A borough in London, which homes the Houses of Parliament in UK.
Y
Young Turks: Revolutionaries who revolted against Sultan Abdul Hamid II and brought down the Ottoman Empire.
Z
Zionism: A Jewish nationalist movement of the 19th Century, which aimed at creation of a Jewish State in Palestine.

FINANCIAL

A
Ad-valorem Duty: Tax on commodities are calculated on two ways: 1. According to quantity 2. According to Value. This duty is imposed on the commodity's value.
Amalgamation: Means blending or merging. In commercial or financial terms, it is uniting of two companies or firms into a single business identity.
Ammortization: Provision for the payment of debt by means of a sinking fund, a fund set aside from the revenues of a firm or company, for this purpose.
Annuity: A fixed-normally uniform amount - by an insurance company to a client, falling due in each year, during a given term, the capital sum not being returnable. To buy annuity the client can either pay a lump sum amount or pay periodic premiums over a number of years.
B
Balance of Payments: Figures showing the balance between a nation's earning from abroad and its spending abroad. The term refers to a complete and comprehensive account of a country's entire commercial transactions with the rest of the world. If the value of imports exceeds that of exports, a deficit balance results and vice-versa for a surplus balance. BoP is the important factor in determining the exchange rate of country's currency.
Balance of Trade: Refers to the visible exports and imports of two countries in trade with each other. If the exports are more, it is called "favourable balance of trade" and when it is vice-versa it is called "Unfavourable balance of trade".
Balance Sheet: An annual projection of accounts on the earnings and expenditures which explains the fiscal growth or otherwise of a company/country etc., May apply to individual earners too.
Bank Rate: Rate of interest charged by the Reserve Bank of India, for lending money to other commercial banks.
Barter: A term used for trading on exchange of commodities, before the introduction of currency system.
Bear: A speculator on the stock-market (shares) who believes that the prices of certain shares that he owns will soon fall, and sells them in the hope of buying them back more cheaply when their prices fall further.
Bill of Exchange: An unconditional order in writing addressed by one person (drawer) requesting the person to whom it is addressed to pay on demand, after a fixed or determinable time, a definite sum of money to the account of a third person called "Payee".
Black Economy: It refers to an economic activity which is officially non-existent but involves circulation of black money, and as such, does not attract revenue taxes. As a result of a black economy huge loss take place for the public revenue.
Black Market: Illegal and unofficial system of providing people with more than their share of goods and services, where these are rationed or their prices controlled. The result is illegal profits by hoarding a commodity to create an artificial scarcity and then selling it at higher prices without proper accounting, to evade taxes.
Black Money: An income not reported for tax purpose. Unaccounted money accumulated by concealing and evading taxes. Black marketing or bribery are the major sources of black money.
Blue Chip: The term applies to the most reliable shares of reputed companies which have a stable growth and least risk involved in investment in such companies by the public.
Book Value: Refers to the cash value of assets of the company calculated at the value at which they were acquired, minus the liabilities payable to those having a prior claim. Also refers to the cash value of machinery or capital goods after deducting depreciation.
Boom: A period when production, employment and spending are all high. A general term to denote anything on the upward trend.
Bounce: A term applied to a cheque dishonoured for any reason by the bank (mainly on account of insufficient funds) or for any other reason, and the payee/drawers is not paid or credited with the amount.
Broker: A person or a firm acting as a link between two parties for trading.
Buffer Stock: A stock accumulated for use in emergency or scarcity.
Bull: A speculator who believes that the prices of certain securities/shares will soon rise and thus buys huge stocks with an intention to sell them at a higher rate later.
Buyer's Market: A market where goods and services are available in plenty, in excess of demand. Buyer can get them at choice of prices.
Budget: Projection of Income and expenditure for the year to come.
Bankruptcy: A legal process by which a person or an organization is declared insolvent debtor and the assets are attached by the Court.
C
Capital: Commonly, it is the money/material saved or procured. In commerce, it is the fund used for production or beginning of any business. Working Capital is the money invested in stocks, on going project or in the day to day conduct of business.
Capital Gain: Profit made from the sale of an asset. When loss is incurred it is called capital loss.
Cartels: A combination of firms and manufacturers to control output, investment, marketing and prices. A sort of monopoly, under which the firms having common interest combine together with the aim of maximizing their profit at the same time retaining their individuality.
Collateral: Security for a loan usually obtained from a government financial institution. Default of the borrower to repay leads to the collateral (immovable financial securities) and recoupment.
Conglomerate: Means, gathering into a mass. A company which acquires interest in different fields of business, by complete take over or merger is called so.
Convertibility: A currency that can be freely exchanged for another currency or gold, without any restrictions from the governing bank of the currency/country.
Corporate Tax: Tax levied on the profits of limited companies.
Core Sector: Industries are classified as core, joint and middle sectors. Ship building, Tractor and Heavy machinery industries belong to this "core" sector.
Cost of Living Index: A statistical device to register changes of levels in prices of essential commodities, to arrive at a figure showing the prevailing costs of living as compared with a "base year" taken as 100. The "base year" is a particular period selected for comparison.
Credit Squeeze: Restriction on the availability of credit from banks, imposed during the period of inflation to reduce the demand for goods and services. Raising of interest rates or other restrictions on banks lending are the methods of credit squeeze.
Customs Duty: Tax on import or export of goods.
Consumer Price Index: Index of the cost of goods and services needed for an average standard of living.
D
Debenture: A written acknowledgement of debt, issued as security by a company on its property. It is issued in the form of a bond by a company undertaking to repay the amount raised from the debenture holder with specified interest after a specified period. Debenture holders are only creditors and not share holders, and have the first right on the company's assets in the case of winding up.
Deficit Financing: Deficiency of revenue as compared to the expenditure. A process in which money is created ( by printing, borrowing or utilization of reserves) without productive resources being augmented to bridge the gap between revenue and expenditure.
Deflation: A condition in which there is an undue decrease in the amount of money available relative to its buying power to reduce the level of demand and supply. The decrease in money circulation results in low prices and unemployment. Credit Squeeze and high taxation are the ways to implement deflation.
Demonetization: To divest value of money. Simply, making the money valueless. A method by which, a particular value (usually high) of currency is demonetized to unearth black monely, when such black monely threatens to wreck the nations's economy.
Depression: A period of persistent high unemployment, stable or falling prices, very low investment, and stagnation of business activity.
Depreciation: Fall in the value of an asset. The value of plant and machinery is reduced by a percentage for wear and tear, in accounting system, every year. In economics, it means fall in money value indicating an inflationary trend and high prices. Also refers to the fall in the value of money in terms of other currencies on foreign exchange basis.
Devaluation: Deliberate reduction in the value of home currency in relation to foreign currency to reduce import and improve export. It makes foreign currency and goods more expensive and domestically produced goods are cheaper abroad.(See under Chapter Finance for the number of occasions Indian currency was devalued)
Differential Rate of Interest: The Concessional rate of interest, which is lower than the normal bank rate of interest. This scheme is normally introduced to provide bank credit to weaker sections of the society.
Diminishing Returns: Law of Economics states that beyond a certain point, increasing input of labour and capital does not increase the output in the same proportion, but at a diminisher or lower rate.
Dividend: Share of profit payable to the share holders in a joint stock company. The company allots a certain portion of its profit to its shareholders at a uniform percentage, based on the number of shares held by each.
Dumping: A term for selling of goods abroad at a price well below the production cost at the home market price. In this process, the supply of a manufacturer's product remains low in domestic market which fetches him better price. This is prohibited by the regulations of GATT - General Agreement on Tariffs and Traders.
E
Economic Goods: All commodities which are limited in quantity as compared to their demand are called so. These are generally man made.
Economic Sanctions: A penalty or reward expressly attached to non-observance or observance of a law or treaty. These are a measure taken by a country ( or countries), against another country to persuade them to follow a certain course of action. These are effected through import and export, shipping control, black listing and preclusive purchase etc.,
Elasticity of Demand: Measurement of the extent to which the quantity of goods or services supplied or demanded varies when another factor, normally price is altered. The change in demand is not always proportionate to the change in price. A small change in price may cause a considerable change in demand.
Embargo: A prohibition or ban on something. It may be imposed on a particular goods or on the goods of a particular country, entering the country which imposes the embargo.
Equity Capital: It is the ordinary share values. Technically, Equity Capital or Equity Value of a company to its shareholders is the value of assets, after all liabilities, other than those to holders of ordinary shares, have been paid.
Equity Shares: These are ordinary shares, the holders of which, take the maximum risk with no guarantee of dividend but also earn maximum returns when there is a profit in the company. They are different from debentures and preference shares which have first and second claim, respectively, on a company's assets.
Estate Duty: Tax payable by the inheritor of a property over a specified value, when the real owner dies.
Exchange Rate: The rate at which one currency can be exchanged for another foreign currency.
Excise Duty: A tax levied on certain items produced and consumed in the country and on licenses for certain trades.
F
Floating Currency: The exchange rate of one currency in terms of another depends on supply and demand, unless intervened by monetary authorities to influence these factors. When there is no such intervention, the exchange rate is said to float, or find its own level. An increase in demand for the currency, the rate rises, and when the demand decreases, the rate also falls.
Forward Market: A market where buying or selling of a commodity is guaranteed at a given price at some future date.
Forward Exchange: By this, an importer can secure supplies of foreign currency at a current rate of exchange, ahead of the time, when he actually needs it to pay for imports.
Fixed Costs: The component of cost of production of a commodity which does not change in volume of its production, such as rent of factory premises, administrative costs etc., However, over the long years, all costs are variable.
Free Ports: The ports which are exempted from payment of customs duty on articles of commerce, primarily to encourage tourism.
Free Market: The market where the price of a commodity is determined by free play of the forces of supply and demand.
Free Trade: A condition of international market where the nations do not impose customs duty or other taxes on imports of goods.
Fourth World: Economically weaker countries which are slipping down further.
G
Gresham's Law: The principle that "bad money drives out good" (from circulation). If two coins having the same face value, but one containing higher metallic value, the lower metallic value coin will remain in circulation, while the higher metallic value coins, on speculation, either hoarded or for metal value.
Gross National Product: Total value of the goods and services produced in the country during a year, plus the net income from the country's investment abroad. This is the figure arrived at after deduction of the income derived by foreigners from their investment in the host country. These figures show trends in savings, Investments and consumption between public sector and private sector, enabling Policy decisions suitably made.
Gross Domestic Product: The total value of all goods and services produced in a country's economy during one year, not including the income from the investment made abroad by the country's citizens and business houses.
H
Hard Currency: A currency that consistently retains high value in relation to other countries'currencies, and is consequently in demand and difficult to get, like US Dollars in India. It reflects that country's strong economy and surplus balance of payments. It also make up a large proportion of foreign exchange reserve of such countries.
Hot Money: Money that flows into a country take advantage of high rates of interest there.
Hyperinflation: A very rapid rate of inflation. Also called "Gallopping Inflation".
Hawala: An under the counter system to circumvent restrictions/ban on foreign exchange transactions.
I
Indirect Taxation: Taxes that are not paid directly to the government but through intermediaries such as produces or retailers. It is a tax levied on expenditure.Viz: VAT, Excise, Local Sales Tax etc.,
Inflation: General and continuing rise in prices or fall in value of money, leading to rising wages and loss of savings. This is due to undue increase in the quantity of money available.
Inventory Control: Control exercised by a manufacturing concern over the maintenance of adequate stock of raw material and finished goods.
L
Laissez Faire: Meaning "Leave Alone" in French. It says that if the state allowed the economic forces a free play, the "invisible hand" of supply and demand would guide individual economic behaviour towards the collective interests of all. This theory was advocated by Adam Smith, British economist.
Letter of Credit: Guarantee to an exporter that the importer of his goods will pay immediately for the goods ordered by him. It takes the form of an authorization of payment sent by the importer's bank to the exporter's bank and is cashed like a current cheque.
Liquid Asset: A type of asset which is either in cash or in the form of a deposit in the current account of the commercial bank.
Liquidity: Assets that can be converted into cash quickly.
M
Mixed Economy: Economics which have the characteristics of both free enterprise,Capitalist economies (private) and state controlled and centralized economies (public). In such states, the governments keeps a control over the private sectors by imposition of taxes and control by legal provision, to avoid exploitation and to meet out its welfare programme budget.
Modvat: Modified Value Added Tax - an excise term. A new scheme is indirect taxes, which permits a manufacturer to claim instant reimbursement of the excise duty paid on the raw materials used for the production of final product. It helps to avoid repeated payment of tax on some commodities and thus reduces the total burden of taxation on the final product.
N
National Debt: Borrowings by a country from other countries, to meet the expenditure when domestic resources fall short.
Nationalization: Acquiring of privately owned service or industry by the Government.
National Income: The value of all goods and services in monetary term produced by a nation during any one year. It is calculated by adding together all income received in return for goods and services. Wages, rent, and interest are included, as also the investment income from abroad. Depreciation and payments made to foreigners are to be excluded. In simple terms, it is the income generated through production in a country, that is, Domestic income plus net income from abroad.
Negotiable Instrument: A promissory note or the bill of exchange payable either on demand or on the expiry of a specified period mentioned on it.
Net National Product: The gross national product minus allowance for depreciation of capital goods used in production.
Net National Product At Factory Cost: The sum total of factor income generated by the factors of production during one year, which include wages, interest, rent and profits.
O
Octroi: A tax levied by a municipal committee or local body on the goods brought within its limits.
Oligopoly: A form of market in which there are few sellers of a commodity who control its pricing and marketing. Unlike monopoly where one seller operates, in this, the sellers being small in number, are dependent on each other for pricing and marketing because each seller is affected by the other. For instance, Cola market in India.
Ordinary Shares: A share for which profit sharing is made, only after the debenture and preference share holders are paid off. These holders are at the maximum risk of receiving nothing in a loss or bad year of a company. As each share carries one vote at the company's meetings and most shares are ordinary shares, their holders control the company.
Over Draft: Upon agreement or extended facility in a bank, a current account holder can draw money in excess of the money under deposit. It attracts interest and repayable on demand or by specified date.
Overheads: Costs involved in a business which is not directly related to the production viz. Rent, Wages etc.,
P
Per Capita Income & Expenditure: It is the average income or average expenditure per head of population which is arrived at by dividing the average income and expenditure by the size of the population.
Prime Costs: Expenses which can be attributed to any single unit of a particular product. These costs vary with the volume of output of production and are therefore direct costs. It includes cost of raw materials, wages. Overheads like rent, fixed managerial costs etc., are not to be included, because they do not vary (often) with the rate of production. As it includes wages, which is variable, prime cost varies accordingly.
Poverty Line: It is drawn at the level of income at which a person or family (five) can barely subsist. It is the money value of a sustenance diet.
Preference Shares: Shares with a fixed rate of dividend that entitle their holders to priority payment over those who hold ordinary shares.
Promoter: The person who starts a new venture. It may also refer to a corporate body, when it starts a new company or firm. A general term for anybody promoting anything.
R
Recession: Slowing down of economic activity over a limited period. Rise in unemployment, fall in demand and output are the main features. Fall in demand leads to accumulation of unsold goods, a result of recession.
Reserve: A general term to indicate something kept separately for future use of any purpose. National reserve means gold or foreign currencies held by a country's Central Bank viz: RBI, to finance international trade and to pay off balance of payment of deficits. It is mostly held in the form of currencies of the major trading countries. In company parlance, it refers to capital reserves ( setting aside a sum of money/profits) for expansion of product output etc., Not to be shared among share holders.
Rights Issue: The private offer of new shares to existing shareholders in a company in proportion to their existing share holding. The shares are normally offered at a small discount, but have the advantage to the company of avoiding the heavy costs of a public offer through stock market.
S
Seller's Market: Where goods and services are not easily available resulting in higher price. A favourable condition to a seller as long as the shortage continues, as the price can be dictated by him/them for more profits.
Sinking Fund: Funds set aside periodically, gaining interest accrual, to be used for discharging any obligation.
Stock Exchange: A common place where stocks/shares are bought or sold by any individuals or institutions or firms.
Scrip Issue: Shares issued free of cost, to its shareholders, equal to shares already held. Obviously no new capital is raised. It is meant to convert the company's capital reserves into shares, which in any case belong to shareholders, but cannot be distributed as divided.
T
Trade Discount: Discount given by a manufacturer to his dealer or by a wholesaler to a retailer.
Turnover: Total amount of sales or money changing hands is called so.
Trade Gap: This occurs when imports exceeds exports. The difference between them is called so.
V
Value Added Tax: An indirect tax levied at each stage of production and distribution from the principal producer to the retailer. The tax is calculated at each stage on the sale price. When it comes to declaring the liability of tax, the seller can deduct any tax paid by him while purchasing the same.

LEGAL

A
Ab-initio: From the beginning, from the first act entirely.
Abandonment: Surrender or relinquish.
Act of God: An extraordinary circumstance which could not be foreseen or guarded against.
Ad-hoc: For the special purpose - like Ad-hoc Grant, Ad-hoc Committee.
Ad-interim: In the meantime.
Adjudicate: To hear and decide an industrial dispute by theLabourCourt/Industrial Tribunal.
Amendment: Correction of a defect in a writ or pleadings or in criminal proceedings.
Ante Litam Motem: Before litigation commenced.
Anumus Deserendi: Intention of deserting.
Appraisal: The act of estimating or judging.
Apprentice: A person bound by contract to serve and learn from a master, who undertakes to train him.
Approbate and Reprobate: Refers to a person, who taking benefit under an instrument, must either accept or reject.
Arbitration: Settling a dispute through arbitration.
Assumpsit: A voluntary promise by word.
Audi Alteram Partem: Hear the other side. A principle of natural justice that no man should be punished unheard.
Award: An interim or final determination by an arbitrating person/institution.
B
Bonafide: In good faith, honestly.
Burden of Proof: The obligation to prove facts.
Basic Wages: Fundamental remuneration.
Bonus: An additional dividend.
C
Cadit Quaestio: The matter ends; It admits no further argument.
Causa Causans: The immediate cause.
Causa Remota: Remote Cause - one operating indirectly through intervention of other causes.
Cause of Action: A factual situation, the existence of which entitles one person to obtain from the Court a remedy against another person.
Certum Est Quod Certum Reddi Protest: That which can be made certain is to be treated as certain.
Check Off Practice: Procedure where by employers agree to deduct employees' Union subscription directly from and pay and transfer them to the Union. Workers must agree to the procedure as a term of the employment contract.
Commute:To substitute one punishment for another.
Completed Year of service: Date of joining in an employment and leaving and not calendar year.
Compos Mentis: Of sound mind.
Conciliation: A third party's intervention to suggest and advice the parties under dispute. A person who conciliates is called a Conciliation Officer.
Contract: A legally binding agreement.
Contract Labour: A person employed through a contractor which enables a principal employer to cut costs and be free from any labour oriented headache.
Contractor: A person doing/getting the work done on contract basis.
Coram: In the presence of.
Corpus Delicti: The body of an offence, that is, the aggregation of fundamental facts constituting an offence.
Corpus Juris: A body of law.
Creche: A place where the working parents' children are taken care of during working hours.
D
De facto: In fact, in reality.
De jure: By right.
De novo: A new or fresh trial, a trial from the beginning.
Default: Anything wrongful and omission to do something which one is obliged to do.
Dereliction: Deliberate or conscious neglect.
Disciplinary Authority: A person dealing with the case of disciplinary nature.
Discrimination: Extending different treatment to a person or a body in the same position as the other.
E
Espousal of Dispute: Ordinarily an industrial dispute which is not sponsored by the Union or otherwise not supported by workmen is not regarded as an Industrial Dispute under the Industrial Disputes Act, 1947.
Ex-gratia: As of favour. Out of Grace.
Ex-parte: By or for one party; proceeding by a legal institution/administrative body, in the absence (failure to turn up) of other party.
Et Pars: No man should be a judge in his own case, as the rule of "bias" applies.
F
Fait Accompli: A thing already done.
Fine: Monetary Penallty.
Flexitime: An employee having freedom to choose what time he begins and quits his job everyday.
G
Gratuity: A monetary reward for long and efficient services rendered by an employee calculated on the basis of completed year of service.
H
Habeas Corpus: A writ requiring that a detained person be brought before a court to decide the legality of his detention. It includes for a missing person too.
I
Industrial Dispute: Any dispute or difference between employers and workmen or workmen to workmen.
Injunction: A specific order of the Court forbidding the commission of a wrong threatened or the continuance of a wrongful course of action already begun.
Inter-alia: Among other things.
Interim Relief: Redressal for the time being.
Ipse-Dixit: He himself said it, a dogmatic saying or assertion.
Ipso-facto: By the mere fact.
L
Labour Court: Appointed by the appropriate government for adjudication of industrial disputes.
Laissez Faire: To leave or let alone.
Locus Standi: Recognised position, a right to intervene.
Lay-Off: The employer - employee relationship is not broken, though for time being it goes under suspended animation.
Lock-out: Closure of a place of work/employment/suspension of work, or the refusal by an employer to continue to employ any number of persons employed by him.
Legattee: Inheritor of a legacy.
M
Malafides: Bad faith.
Mens Rea: Guilty Mind.
Modus Operandi: Manner of operations; way of doing something.
Moral Turpitude: Anything done, contrary to justice, honesty, modesty or good morals.
N
Natural Justice: To prevent miscarriage of Justice.
Notice: Advance intimation of a thing to be done or intimation about an intention.
Notice of Change: An advance intimation with regard to any change in the conditions of service or otherwise.
O
Obiter Dictum: Something said by the way, a cursory remark. An observation either not necessary for decision or does not relate to the material facts in issue.
P
Persona Grata: An acceptable person.
Persona-non-grata: A non-acceptable person.
Prima Facie: On the first view or glance.
Privity of Contract: Relationship subsisting between parties to a contract.
Proforma: As a matter of form.
Prorata: In proportion.
Q
Quasi-Judicial: Action of Judicial nature performed by administrative authorities along their normal work.
Qui Approbat Non Approbat: The instrument on whom the person taking benefit to accept or reject.
Quid Pro Quo: A writ in the nature of "quo warranto" would lie " against a person who claimed or usurped an office franchise or liberty to enquiry by what authority who supported his claim, in order that right to the office franchise might be determined.
R
Ratio Decidendi: The ground of decision.
Reference of Adjudication: When appropriate government refers an industrial dispute to labour court or Industrial Tribunal, with terms of reference.
Reprimand: A severe rebuke, especially a formal or offensive one.
Res Judicata: " a thing decided" - "res" means a thing and "Judicata" means already decided.
Rescind: To annul or abrogate; revoke.
S
Seriatim: One after another, in turn.
Simpliciter: Without qualification, absolutely.
Sine Die: Without fixing a date.
Sine Qua Non: An indispensable condition.
Social Justice: An inarticulate major premise which is personal and individual to every court and every judge as per Mr. Justice Holmes.
Status Quo: The same state as before.
Stigma: A blemish, defect, disgrace or shame and label indicating deviation from a norm.
Suo-motu: (Suo-moto): On its own term.
U
Ultra vires: Means "beyond one's powers", "beyond one's competence" or "beyond one's jurisdiction".
V
Via-media: A middle course.
Vice-versa: The terms being exchanged.
Vis-à-vis: Opposite, facing.
Vox Populi, Vox Dei: The voice of the people is the voice of God.
W
Writ: A formal legal document ordering or prohibiting some action.
Writ Mandamus: Also called Mandamus. It is, prerogative writs in common law, and is issued by a superior court to compel a lower court or a government officer to perform mandatory or purely ministerial duties correctly.

MILITARY

A
Ambush: Sudden and surprise attack on enemies. This type of attack is generally practiced on Guerilla Warfare.
Artillery: Any engine used for the discharge of large projectiles during war, served by a crew of men from the ground. Artillery forms a separate regiment in all military organizations/countries.
B
Battle Space: A unified strategy to integrate and combine armed forces for the military operation including air, information, land, sea and space, including with it the environment, other factors and conditions, to combat and complete the mission proposed.
Blockade: An effort to prevent supplies, troops, information or aid to reach the opponent.
Booby Traps: In warfare, it is an antipersonnel device placed in building or in a non-combat area that has a psychological draw for enemy soldiers.
Break Out: A military operation to end a situation of encirclement or siege.
Bridgehead: A military fortification that protects the end of a bridge that is closest to the enemy.
Banquette: A little foot path or elevated step along the inside of a rampart or parapet by which the musketeers get up to view the counter scarp or to fire on the enemies in the moat.
Bastion: A structure projecting outward from the main enclosure of a fortification situated on both corners of a straight wall.
Block House: A small isolated fort, in the form a single building. It is intended to serve as a defensive strong point against any enemy which does not possess siege equipment or, in modern days, artillery.
Bunker: A defensive military fortification, mostly below the ground, with a small structure above.
C
Camouflet: An artificial Cavern (cave) created by an explosion to undermine a structure. If the explosion reaches the surface then it is called a Crater.
Charge: A maneuver in battle in which soldiers advance towards their enemy at their best speed to engage in close combat.
Counter Attack: A military tactic used by defending forces when under attack by an enemy force.
Coup de Main: A swift attack that relies on speed and surprise to accomplish its objective.
Column: A formation of soldiers marching together in one or more files, in which the file is significantly longer than the length of ranks in the formation.
Cavalry: Soldiers or warriors who fought, mounted on horse back in combat.
Combat: Purposeful violent conflict intended to establish dominance over the opposition.
Crossing the Tee: A naval warfare term, and a tactic, in which, a line of warships, crosses in front of a line of enemy ships, allowing them to bring all their guns to bear while receiving fire from only the forward guns of the enemy.
Circumvallation: A line of fortifications, built by the attackers, around besieged fortification facing towards the enemy fort.
Contravallation: A second line of fortifications behind the circumvallation facing away from the enemy fort to protect the besiegers from attacks by the allies also.
Chevaux de Frise: Sword blades chained together to cut up people trying to charge into a wall breach in the walls.
D
Defilade: A unit or position is "defiladed" if it is protected from direct exposure to enemy fire.
Dragon's Teeth: It is a kind of fortification used to impede the progress of a mechanized armies.
E
Encirclement: The situation when a force or target is isolated and surrounded by enemy forces.
Enfilade: A unit or position is in "enfilade" if enemy fire can be directed along the long axis of the unit.
Echelon Formation: A military formation in which members are arranged diagonally.
Escalade: The act of scaling defensive walls or ramparts with the aid of ladders.
F
File: Number of troops drawn up in line ahead, that is, one behind the other in column.
Fabian Strategy: A military strategy where pitched battles are avoided in favour of wearing down an opponent through a war of attrition.
Flank: The side of a military unit.
Frontal Assault: A direct hostile movement of forces towards enemy forces in a large number, in an attempt to overwhelm the enemy.
Fox Hole: Holes dug or made above ground, large enough to accommodate a soldier's entire body and equipment. It is a defensive fighting position.
Fortifications: Military constructions and buildings designed for defense in warfare.
Forlorn Hope: The first wave of soldiers attacking a breach in defences' during a siege.
H
Hors de Combat: Out of the fight, surrendered, wounded etc.,
I
Infiltration: An attempt to sneak across a border or into a guarded place.
Interdiction: To attack and interrupt enemy supply lines.
Investment: The military tactic of surrounding an enemy fort/town with armed forces entry or escape.
Infantry Square: A battle formation of infantry, when faced with Cavalry. The infantry form a hollow square facing out on all sides, in two, three or more ranks with fixed bayonets. Generally a battalion of approximately 1000 men was the smallest force to drill in forming a square. The unit's colors, commander, and a reserve force are positioned in the center of the square. If the squares maintain cohesion cavalry have almost no effect on it.
K
Killing Field: A field with of fire, usually covered by machine guns in modern warfare.
L
Lodgement: An enclave made by increasing the size of a bridge head, beach head or air head.
Lunette: A kind of fortification, an outwork consisting of a salient angle with two flanks and an open gorge.
Line Astern: A naval tactic in which the ships of the fleet form a line end to end.
M
Mercury Thunder: An army communication net work.
Military Logistics: The art and science of planning and carrying out the movement and maintenance of military forces.
Melee: Disorganised close combat involving a group of nation.
Material: Specific needs of an army to complete a specific mission.
Moat: A broad trench, usually filled with water, that surrounds a structure, installation or town, a preliminary line of defence.
N
No man's land: A disputed area between two parties or nations.
No Quarter: It is "no mercy" - all to be killed. It is now a war crime to order a "No Quarter"
O
Overwatch: A small unit supporting another.
P
Parade Ground: Where the forces practices drills., physical exercises and combat/firing techniques.
Patrolling: Small groups or individual units deployed from a larger formation to achieve a specific objective and then return.
Parthian Shot: A military tactic of Parthians, in which the force would feign a retreat, and then suddenly turn back in full speed and attack or fire the pursuing force.
Pickets: Sentries or advance troops whose job is to warn of contact with the enemy. A soldier who has this job is on "Picket Duty".
Pocket: A battle field feature that projects into enemy territory.
Pitched Battle: A battle where both sides choose to fight at a chosen location and time and where either has the option to disengage either before the battle starts or shortly after the first armed exchanges. In normal parlance, it means a fierce and severe battle.
Pocket: A battle field feature that projects into enemy territory.
Pyrrhic Victory: A victory with devastating costs to the victor.
Phalanx: A rectangular mass military formation, composed entirely of heavy infantry armed with spears, pikes or similar weapons.
R
Raid: A tactic whereby a sudden attack is effected by a small group behind enemy lines, to demoralize, confuse, ransack etc.,
Reconnaissance: The active gathering of information about an enemy, or other conditions by physical observation.
Rank: A formation, a line of military personnel, drawn up in line abreast that is standing side by side.
Ranking Fire: In naval terms, it is fire directed parallel to the long axis of an enemy ship, thereby increasing damage to the hull, sails and crew.
S
Sack: The deliberate destruction and/or looting of a city usually after an assault.
Scorched Earth: A tactic which involves destroying anything that might be useful to the enemy while advancing through or withdrawing from an area.
Shoot and Scoot: A type of fire and movement tactic used by artillery to avoid counter battery fire.
Staging Area: A location where people, vehicles, equipment or material are assembled prior to their use.
Shield Wall: A military tactic, in which soldiers standing in formation shoulder to shoulder, holding their shields, so that they abut or overlap each man, benefits from the protection of his neighbours shield as well as his own. Nowadays this tactic is more in use in the Police.
Scarp/Counter Scarp: Are the inner or outer sides of a ditch used in fortifications.
Scuttling: The deliberate act of sinking of a ship by allowing water to flow into the hull.
Sangar: A small temporary fortified position with a breast work originally of stone - now built of sand bangs and similar materials.
Sconce: A small protective fortification such an earth work often placed on a mound as a defensive work for artillery.
Slighting: The deliberate destruction of a fortification without opposition from its builders or its last users.
Siege: A military blockade of a city or fortress with the intent of conquering by force or attrition, often accompanied by an assault.
Sapping Mine: Is a siege method used against walled cities, fortress or castle, where tunnels are dug to undermine the foundations of the walls.
T
Trench Warfare: Waging of a war by being inside a trench specifically dug to keep material and men.

POLITICAL

A
Adult Franchise: Rights and Privileges of an adult to exercise to vote irrespective of gender, caste or religion.
Absolute Majority: Any group which accounts for more than 50% of the total of members of the group.
Autonomy: A freedom to function independently. An autonomous is self governed/independent, functioning on its own principle.
Act: A bill passed in both the houses and assented by the President and enacted as a law is an Act.
Adjournment: Sitting assembly is discontinued to be resumed later.
Autocracy: One person holding absolute power.
B
Bicameral: A country/state's legislature functioning in two tiers/chambers viz: Rajya Sabha and Lok Sabha.
Bureaucracy: An administrative ladder or hierarchy in which the steps are more in number, thereby delaying the process of administration and execution, and such delays are called the "Red Tapism".
Bye Election: Generally held for a single or a few constituencies, where vacancies have arisen due to death, resignation or for other reasons.
Bill: A proposal for consideration.
C
Capitalism: In a government where private entrepreneur holds control over all business activities including land and other natural resources, with the only exception being competition.
Coalitition: In politics, it means, political parties ( like minded in principle) who have not obtained, majority/absolute majority, unite together to form a government, on a common agenda.
Cold War: A war without war. Two parties/countries trying to establish supremacy over the other, by strengthening oneself and weakening the other.
Colonial Rule: An independent alien country ruling over a territory which does not form part of its own and subjecting the people of that territory to abide by their governance. For instance, India was a colony under British.
Communism: A political philosophy which believes in collective ownership, classless society etc., etc., all in common.
Coup d' etat: Sudden fall of a government, by an illegal force, normally by military - militants group.
Caucus: Meeting of a group of politically interested people to work out a common action.
Climbing on the Band Wagon: Endorsing support to a person who is likely to be elected.
D
Democracy: A form of government in which the supreme power is vested with the people collectively and is administered by them or by Officers (parliamentarians) elected or appointed by them. In the worlds of Abraham Lincoln, democracy is a Government "of the people, by the people and for the people".
Developing Countries: African, Asian and Latin American countries which are undergoing the process of development and modernization.
Defection: Also called " Floor Crossing" - both the term refers to a legislature leaving a political party on whose symbol and support he was elected and joining the opposition or the Government in power. To avoid this, our country has enacted the "Anti Defection Law" ( mentioned in the 10th Schedule of the Constitution. The Bill was passed during the period of Atal Behari Vajpayee in 2003).
E
Extradition: A demand made by a country for the return of a political or a criminal character living in another country. To make the process easier, "Extradition Treaties " are often signed between countries.
F
Federal States: A country where several stats remain independently administered, at the same time contribute to the common interest of the country. Most countries are Federal in nature.
Fifth Column: Refers to traitors or people who indulge secretly in anti-national or anti-government activity to disrupt and help the enemies.
Fourth Estate: A term used for the family of journalism, as they can influence the public opinion against the government eitherway.
Filibuster: Indulgence in long winded unnecessary speeches to obstruct or delay the passing of a matter under consideration.
Fascism: Political ideology based on extreme right wing ideas under one party and unquestionable leader.
G
Gallup Poll: A test poll to ascertain public opinion on political subjects. Dr.Gallup of USA introduced this system.
General Election: An election held for the whole country either at the end of its tenure or in between if situation demands so.
I
Imperalism: A political ideology in which a King/Emperor forcibly extends his domain over other countries and people.
Impeachment: A procedure by which a very highly placed Officials ( mostly constitutional posts like President, PM, Governor, Judges etc) are prosecuted and judged for alleged offences by the legislature that would otherwise be beyond the reach of the normal process of law. (Recently in 2011 the case of Supreme Court Judge Samir Sen was taken up for impeachment in the Parliament, in which the Rajya Sabha passed the impeachment and before it was taken up in Lok Sabha, the judge submitted his resignation).
Inner Cabinet: The most influential group of people (coterie) surrounding the Prime Minister and influences important decisions be taken by him.
L
Lobbying: Literally it means canvassing for a specific cause. In politics, it is to frequent the lobby of the legislative hall to influence the members on certain matters.
Lame Duck Session: The last session of the old members of the legislature before the completion of its term, though the new legislature has been elected.
M
Manifesto: An agenda or prorammes which a head of the country, political party etc., declare it in public as their intentions of what they propose to do while in/coming to power.
Mid Term Poll: An election held before the expiry of the normal tenure of an elected legislature due to dissolution.
Monarchy: Rule of a country by a single person as the absolute authority who ascends to the post hereditarily, viz. a King, whose authority is not circumscribed or inhibited
Money Bills: Bills table, dealing with all financial matters. Lok Sabha only can initiate and also the final authority.
N
Naxalites: A term originated from Naxalbari of West Bengal in 1967., when radical communists attempted revolt. Naxalites are radical communists ( now belonging to CPI (M) - who advocate the preaching of Mao Tse Tung to create revolt by exploiting feelings of discontentment among peasants, labourers and tribes. This organizations has been banned from 1975.
Nazism: The ideologies of a political party led by Adolf Hitler of Germany.
O
Ombudsman: Term for a parliamentary and/or official appointed to investigate maladministration.
Ordinary Bill: A bill to represent any matter pertaining to citizens as a whole. They are of two types viz. 1. Public 2.Private.
Oligarchy: A politica system where power is shared by a few.
P
People Sniffer: Indictment of the government through the unofficial media.
Propagation: The discontinued sitting of the Assembly is to be reassembled/resumed later.
Plebiscite: Referendum or direct vote by all the electors of a country/district on a specific question.
Q
Question Hour: The first hour of every sitting is called the "Question Hour" when question raised are assigned to the ministries concerned for answering on a fixed date.
R
Referendum: A controversial issue directly put to the public for decision by popular vote.
Repatriation: An official means of sending back prisoners of war or refugees (illegally entering another country due to certain crisis) to the land/country they belong to.
S
Snap Vote: Voting unexpectedly, recorded without the voters being informed in advance by party whip.
Snap Poll: Sudden election to a legislature before the expiry of its full term. Also called Mid Term Poll.
Starred Question: Questions answered orally.
Sine Die: An adjournment without any time frame for resumption.
T
Third World: A term used for the developing states.
U
Unicameral: States with single house of legislature. Most Indian States are unicameral (excepting Bihar, J&K, Karnataka, Maharashtra, UP and Delhi).
Unstarred Question: Questions that are to be answered in writing.
Zero Hour: The time allotted to various business items like "Call Attention Motion".