Apropos the report “Chidambaram or not, traders expect action” (Business Line, August 2), the return of Chidambaram to the Finance portfolio may enthuse markets, but the Government would have to take positive measures.
The Indian workforce may not like Chidambaram’s comeback.
The bi-partite settlements in the financial sector – banking and insurance – expire this year and the discussions for the next revision will commence soon. Employees consider Chidambaram to be a hardliner.
On the policy front, the government remains passive on issues such as allowing FDI in retail. The current UPA dispensation has limited time on its hands.
C.P. Velayudhan Nair
About 67 crore Indians have lost access to power in the largest blackout caused by a host of electrical issues, ranging from bad energy policy to an overburdened electrical grid. Deficit rains, lower hydroelectric generation, lack of coal supplies and an over-strapped grid are the likely causes. However, the massive blackout in the Northeast and Midwest US on August 14, 2003, showed that such incidents are not confined to India.
Rising incomes are driving increased use of air- conditioners.