German blunder

This refers to your edit, ‘Booster shot’ (January 26). The problem in the European Union is Germany’s misconstrued fiscal policy which is against the GDP deflator norms accepted by the European Central Bank. If Germany doesn’t get its GDP deflator on par with other European countries, the stimulus provided by the ECB will be of little help to struggling countries.

Germany, which is in charge of the policy in the Eurozone, is responsible for deflation in Europe. History shows that policy blunders in Europe led to conflicts in the world leading to the loss of millions of lives. This time around let’s hope they get their policy direction right before it is too late. Germany leads the Eurozone’s refusal to accept the evidence of the policy blunders; that’s why Europe is in this state.

CR Arun

Email

New ground

India and the US have managed to break new ground by reaching an “understanding” on nuclear trade and defence partnership. The end of the nuclear logjam will enable commercial nuclear cooperation between the two countries, including the sale of US nuclear reactors to India.

The agreement to develop advanced defence projects is also a big stride forward aimed at taking defence cooperation to the next level. The move to have a hotline that will connect Narendra Modi and Barack Obama and security advisors of both countries is historic.

NJ Ravi Chander

Bengaluru

Give farmers a boost

It is no doubt heartening to note that India and the US have signed agreements that will boost the former’s defence and energy sectors. At the same time, one feels India and the State governments here must have agricultural policies and mechanisms to ameliorate the economic condition of our farmers.

The majority live in penury and in debt, despite producing huge quantities of commodities. It will not be out of context to suggest that farmers must be allowed to choose least-cost inputs (of course, qualitative) and maximise their profits. Needless to say, the governments will have to provide good support prices for their produce and eliminate middlemen.

S Ramakrishnasayee

Ranipet, Tamil Nadu

Mumbaikars work hard

With reference to the report, ‘Mumbai firms better wealth creators than those based in Delhi’ by Meera Siva (January 26), the establishment of financial institutions is cited as one of the reasons for more wealth creators in Mumbai. But one of the main reasons for successful companies in Mumbai has been ignored. The work culture is far better in Mumbai; Mumbaikars are highly organised and I am sure output per employee in any organisation is superior to employees in other cities.

SA Srinivasa Sarma

Hyderabad

The Padma award saga

The Padma Shri has become a cruel joke. The absence of clear objectives, and proceedings based on pure subjectivity, has made the process a laughing stock and the award itself, inconsequential. Once an individual climbs the first rung of the ladder, that is, gets the Padma Shri, subsequent elevations are automatic. Or you should get miffed and complain and the government will quickly include you in the list. Or they eliminate you and give it to your coach and take everybody by surprise. Or, they give it based on the time-scale formula.

The government should either scrap this award or institute an objective system for selecting deserving persons.

K Dwarakanath

Bengaluru

Errata

b The report, ‘NSE to catch ‘em young for financial literacy, management’ (January 26), got the name and designation of Ravi Varanasi, chief of business development with the NSE, wrong. The errors are regretted.

b The table on top ten companies by market capitalisation that accompanied the report, ‘Mumbai firms better wealth creators than those based in Delhi’ (January 26) contained data that was either wrong or outdated. Please see link — http://goo.gl/XxF2Lg — for corrected and updated figures.

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