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A sum of Rs 60,000 crore was released by the RBI to the banks with the obvious intent of shoring up share prices. The Finance Minister has promised many more crores for the purpose.

Very little of such huge funds are made available to factories or for investing in agriculture, sectors that are vital for the productive services they provide for the nation’s betterment.

But much money is easily given to money-shuffling businesses and speculation. Is this not a tragedy?

Let us hope that we will not suffer like the US, with its failed financial empire. Shares will find true and sustainable levels based on the strength of the company and not by injection of liquidity.

B. V. Rao Bangalore

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