Financial Daily from THE HINDU group of publications
Thursday, Jan 22, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 22, 2004 |
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Opinion
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Letters Defence deal
The Defence deal with Russia to purchase Admiral Gorshkov and fighter aircraft, which is estimated to cost about Rs 7,000 crore, is irrational and unwarranted. Given the poor economic development, growing rate of unemployment and poverty, the country cannot afford to spend such a huge amount on defence. Instead, the Centre should concentrate on human development and infrastructure. Investment in human development has assumed significance with India falling from the 124th position in the Human Development Index last year to the 127th position this year. It is also essential to reduce the widening fiscal and revenue deficit. It seems that the Centre has forgotten its statutory liability to reduce the fiscal and revenue deficits under the self-imposed Fiscal Responsibility and Budget Management Act, 2003. C. Ramesh Keeramangalam (TN)
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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