Explained: What is Floccinaucinihilipilification?

Used by Monetary Policy Committee member Chetan Ghate now, by Shashi Tharoor earlier.

The Oxford Dictionary defines ‘floccinaucinihilipilification’ as “the action or habit of estimating something as worthless”.

In the minutes of the Monetary Policy Committee, which decides on India’s monetary policy, released on Wednesday, one of the government-nominated members, Chetan Ghate, is quoted as stating: “Estimates of economic growth in India have unfortunately been subject to a fair degree of floccinaucinihilipilification. Notwithstanding this, growth is likely to pick up from Q2-Q3: 2019-2020”. The minutes pertained to the third bi-monthly monetary policy review that was announced on August 7.