The Hindu Business Line : Visakhapatnam Commissioner of Police, Mr N. Sambasiva Rao; Integral Institute of Advanced Management, Visakhapatnam

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Visakhapatnam Commissioner of Police, Mr N. Sambasiva Rao; Integral Institute of Advanced Management, Visakhapatnam

— K.R. Deepak

On tackling economic crisis: The Visakhapatnam Police Commissioner, Mr N. Sambasiva Rao, addressing the students of Integral Institute of Advanced Management at a Business Line Club lecture in Visakhapatnam on Tuesday.

Our Bureau

Visakhapatnam, Nov. 25 Speculation, fuelled by greed, leads to economic disaster, as the US is witnessing today, and only growth based on wealth creation through value-addition can be sustained in the long run, according to the Visakhapatnam Commissioner of Police, Mr N. Sambasiva Rao.

He dwelled on the US economic crisis while delivering a lecture and participating in an interactive session with the management students of Integral Institute of Advanced Management here on Tuesday. The function was organised by the Business Line Club in the college.

The Police Commissioner observed that it was indeed amazing that there were simply no checks and balances in the financial system to prevent such a crisis and “not one of the so-called pundits in the field has sounded a word of caution.”

He ascertained their views on the genesis of the economic crisis and discussed possible steps to tackle the issue. He also explained to them his understanding of the problem.

“Business Line is one economic newspaper that has not lost its balance and has always put things in proper perspective. I have gained valuable insights into the working of the stock market and the functioning of the economy through the paper,” he said.

Citing the remark of Swami Dayananda Saraswati, as reported in a Business Line interview, he said the US economic crisis could be blamed on “the greed to make money out of money without producing anything industrial, agricultural or electronic.” Concurring with this view, he said that no amount of financial engineering or jugglery could be a substitute for solid, steady economic growth based on value-addition.

Mr Rao, however, advised the students not to get despondent as they would still land in good jobs. But “it is important for you to learn lessons from the economic recession and derive resilience out of it.”

Mr T.V. Suresh, Regional General Manager of The Hindu, spoke about Business Line’s progress over 15 years.

Mr S. Ravindra, Secretary of IIAM, presided over the meeting and Ms Madhavi Lata, Director, introduced the chief guest.

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