Demonetisation optics

Basically, the BJP has failed to realise its dream of nabbing black money hoarders (Demonetisation: reality and optics by A Srinivas, January 11). The intent was to bring easy revenue to be spent on infrastructure, where investment has been hit because of high non-performing assets.

This reflects poorly on the performance of this government, in the sense that it was expected to recapitalise the banks.

The demonetisation has gone awry. Now the government is licking its wounds. Many people have died while waiting before ATMs. Thanks to revenue loss arising from fall in growth, the Budget will be constrained in ramping up the economy. At least the previous government knew how to set right the economy when it moved in the wrong direction.

RK Arya

Email It is clear from the deposition of the RBI before the Parliamentary Standing Committee on Finance that the Government had instigated the central bank to give a notification of demonetisation, which amounts to dilution of the RBI’s autonomy.

It is to be noted that former governors of RBI also are of clear view that autonomy of the RBI is most important in an economy like India and under no circumstances should it be compromised. The formation of the Monetary Policy Committee is nothing but intrusion in the RBI’s autonomy.

TSN Rao

Bheemavaram, AP

Sahara-Birla papers

The Supreme Court’s dismissal of the plea for a SIT probe into alleged pay-offs noted in the diaries seized by IT Department may have come as a great relief to the Prime Minister and the BJP. In its wisdom, the apex court has ruled that no admissible and cogent evidence was furnished to persuade it to order the probe.

It seems to have relied more on the clean chit given by the Income Tax Settlement Commission’s finding that the papers detailing pay-offs to politicians do not prove pay-offs to them. It would seem that the Supreme Court went back on its word that a little evidence was enough to order a probe.

But the relief from the apex court should not give cause for the Prime Minister to maintain a studied silence and let his critics sully his name. A categorical “No” by him would help clear the air. The exalted position of Prime Minister must be always above suspicion.

David Milton

Maruthancode, Kanyakumari

Tax burden

As regards “Centre mulls hike in service tax if GST rollout is delayed” (January 11), there is nothing surprising. What else could the hapless citizens expect from our tax savvy finance minister?

Arun Jaitley would always keep in mind the expected ‘returns’ from whatever he does. He is most likely to ‘sugar-coat’ all such revenue-generating proposals by offering a few well-publicised ‘sops’ in one form or the other.

SK Gupta

Email

Samajwadi party fight

It is a classic case of ‘you scratch my back and I scratch yours’(“Akhilesh-MSY meeting a sign of truce?” January 11). The theatre of absurdity in the baap-beta internal squabbles in poll-bound Uttar Pradesh changes every passing day, from attacking each other one day to extending an olive branch the next. Is it any different from watching a comic soap on the small screen?

There is no light at the end of the tunnel. It is common knowledge that if the splintered groups contests separately, both factions are bound to face humiliating defeat.

HP Murali

Bengaluru

Mahi way

It was a delight to see M S Dhoni go out as India captain with all guns blazing. ‘Captain Cool’ enthralled the capacity crowd with a quickfire 68 of only 40 balls, including 23 of the final over.

The effort enabled India ‘A’ to go past 300 and set up a challenging score for the Englishmen to chase. Though Mahi’s heroics were not enough to clinch India victory it was clear that he has lost none of his old touch and aggression.

One hopes he continues to shine under the new captain Virat Kohli.

NJ Ravi Chander

Bengaluru

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