This is with reference to the editorial ‘CITU is Wrong’ (January 19). We do not subscribe to your perception and outlook that failure is an inherent part of business. CITU stands resolutely by its statement against the government decision to discontinue BIFR and AAIFR.

It is relevant to recall that a former Chairman of BIFR had said that making industry sick has become a profitable business. And it is this black hole which has been contributing to dangerous accumulation of intentionally unpaid outstanding loans called ‘NPA’by business houses and turning the banks as well as the economy of the country sick..

Contrary to your arguments, as per statute, a company under BIFR is not permitted to strip assets or siphonoff funds, but they could merrily go on doing the same just because the government indulged themwhile abdicating its regulatory responsibility. There are Mallyas, Subrata Roys and many more examples.

Allowing to turn an enterprise sick wilfully, disowning all liabilities and simultaneously expecting that the same business establishment will honestly invest the capital to establish new enterprise does not make sense.

So, CITU is of the firm opinion that the Companies Act 2016 and Insolvency and Bankruptcy Code 2016 does not provide a new frame work for revival and rehabilitation nor to protect effectively the interest of the affected workers but are exclusively aimed at rescuing the creditors, big business and business houses.

Tapan Sen

General Secretary, CITU

Farm woes This refers to “Why are farmers are killing themselves” by P Alli and A Narayanamoorthy (January 27). Although debts and finances are the main cause for farmers’ suicides, most of these can be avoided if we are able to counsel the farmers in the right manner. If, in the case of failed crops, a farmer and his family can be given alternate employment, he may not take this extreme step. Waiver of farm loans is only a small step to preventing suicides, but counselling of farmers by taking care of their medical needs, along with CSR activity, can go a long way.

Veena Shenoy

Thane

This refers to “Will the FM meet expectations?” by Tapati Ghose and Sowmya P (January 23). The Budget can lead to favourable or unfavourable impacts on the common man whose personal budgets could be affected quite seriously. The post-demonetisation economic scenario might have created a situation of easy money having been collected as black money. So, people are justified in expecting relief in areas of expenditure.

TR Anandan

Coimbatore

Need a clear roadmap This refers to “It’s a question of continuity and change” by Pankaj Patel. It’s good that industry has outlined its expectation clearly and included reforms on electoral funding and promoting cashless transactions across sectors. With the PM himself pitching in for electoral reforms and converting our economy into a cashless one, these are likely to be accommodated by the finance minister. The promised cut in corporate taxes to 25 per cent in a few years may not bring smiles on the faces of Indian corporates. But there would be some trade off between them and the Government. The economy will be put back on track only when all roadblocks are cleared for fresh investment and banking sector’s huge NPA levels are addressed. Fresh capital infusion into PSU banks alone will not fetch the desired results. A clear roadmap by Jaitley will help.

Bal Govind

Noida

Sena’s blues This refers to “Shiv Sena snaps alliance with BJP” (January 27). The Shiv Sena president is sulking after the shocking defeat suffered in the Maharashtra Assembly polls. Despite contesting separately for the State Assembly, BJP won handsomely. The late Bala Sahib Thackeray had a good chemistry with the BJP. But his son has been unable to digest the ally making rapid strides. He is not able to understand the importance of allying with it to keep Congress and NCP from having the upper hand.

HP Murali

Bengaluru

LETTERS TO THE EDITOR Send your letters by email to bleditor@thehindu.co.in or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

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