The editorial, ‘Freeing up angels’ (December 1) accurately pinpointed the imperatives of relaxing conditions for funding startups while highlighting the loosening of certain conditions by SEBI. Venture capital, private equity and angel funds must be given preferential status. In India, risk-taking in business is far less than in other nations. This scenario calls for a non-judgmental approach to funding startups.

The definition of ‘startups’ must be inclusive to inspire and align meaningfully with foreign JVs. The ₹25-crore turnover restriction on funding agencies will close doors on investment from smaller firms. The stipulation of ₹2-crore networth with a 10-year standing in industry will dampen the spirit of small and new investors. The Centre claims that ease of doing business will be accelerated in India but it is not evident in its rule books. If these restrictions are not removed, the scope for startups will be very remote. The positive focus of the Insolvency and Bankruptcy Code 2016 must be percolated with SEBI’s conditions to make it futuristic in all aspects.

B Rajasekaran

Bengaluru

Time-bound strategy

Regarding ‘Modi is running away with the game’ by Raghuvir Srinivasan, (December 1), if the strategy works, the BJP will sweep the Assembly polls in UP, Punjab and other States. However, the Achilles heel is the RBI. If it fails to print and distribute new currency in time and in sufficient numbers, the public mood may turn against the BJP.

YG Chouksey

Pune

Despite hardships due to the cash crunch it appears that people are supporting the move to weed out black money. There is no denying the fact that Modi has flaws. His clean image, humble background and rise to power through hard work is drawing people, especially youngsters, towards him.

Veena Shenoy

Thane, Maharashtra

Budget suggestions

Banks are providing ATM cards to every account holder and all shopkeepers are to be provided swiping machines free of cost. The positive effects of this move will be felt if Modi decides to deposit a small sum into all Jan Dhan accounts from the black money collected so far. If a cut in I-T rates and the removal of TDS from the interest of deposits at least for senior citizens is recommended in the coming Budget, it would make up for all the pain suffered now.

TSN Rao

Bheemavaram, Andhra Pradesh

Big ordeal

On the one hand, there is insistence on routing all salary payments through banks and on the other hand, ATMs are starved of cash and banks face cash problems despite a lapse of more than three weeks . What justice is being rendered to low income people and honest taxpayers for whom life has become big ordeal?

Either the Government and RBI should have made good logistical arrangements to handle the outcome of demonetisation or they should have limited demonetisation to ₹1,000 notes.

Introducing 2000-denomination notes without the support of lower denominations has created hell. Just to check black money, corruption, border terrorism, and counterfeiting, it is gross injustice to disrupt the lives of ordinary people.

RS Raghavan

Bengaluru

It’s not too late

This refers to ‘Brace for a low-cash pay day’ (December 1). Demonetisation and withdrawal of high-value currencies is a step in the right direction. But the Government should have made detailed and pragmatic plans for payment of salaries. The most affected are senior citizens and the sick. Even now the Government can initiate solutions to save the situation.

TR Anandan

Coimbatore

We’re all despots

Nobel Laureate Amartya Sen has not added to his glory by describing demonetisation as a “despotic action”. Stretching the argument, any government action, anywhere in the world can be alleged to be ‘despotic’. However, he people of India have taken the measure in the right spirit.

MG Warrier

Mumbai

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