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‘CTC and what you take home’ by Anand Kalyanaraman (February 9) made an interesting revelation about how companies manipulate the compensation structure to their advantage. Employers are pushing the new concept of cost to company (CTC), which is an engineered terminology. The other side of CTC is CBE, contribution by employee. In certain industries, CTC can be easily computed across all employees, but it may be difficult to assess CBE, which is intangible. What about personalized services, intellectual capital, and risks to which employees are exposed? Human capital, a very crucial component, is not reflected in the balance sheet.The ongoing wage settlement issue in the banking industry is due to all these discrepancies. Hence, CBE should not be ignored while arriving at CTC.
RS Raghavan
Bengaluru
The vaastu culture
Lately, people have become obsessed with vaastu (‘Virulent vaastu’, February 9). Large sums of money are being spent in government offices to make alterations. Vaastu has nothing to do with success or failure. So-called experts exploit the gullible to make money. It is interesting to know that even politicians who proclaim they are atheists submit to vaastu. They should set an example by not giving credence to such beliefs.
HP Murali
Bengaluru
Not quite right
In the article, ‘APMCs. The other side of the story’ (February 9), author Sukhpal Singh makes some comparisons that are out of context. Contract farming is done in a totally different context. There are a number of contract farmers in states like Punjab, for instance, but there are many stipulations such as type of seed used, fertiliser schedule, irrigation , crop care and so on. Small and marginal farmers are not contracted.
The bane of Indian farmers is the middleman. Farmers in Beijing who sell directly to customers make good profit without the intervention of middlemen. These markets can only work in the case of perishables. If organised in a more “open” manner, it can work in India. India must have a common market as in Europe with minimal price disparity.
KP Prabhakaran Nair
Revisit leave salary
According to the Income Tax Act, any amount received by employees of the Central and State governments in respect of leave salary on retirement is fully exempt from tax.
However, for non-government employees, the maximum amount exempt from tax on this account is ₹3,00,000 only which was fixed way back in April 1998. The finance minister is requested to remove the discrimination between government and non-government employees and exempt the amount received. Alternatively, the limit of ₹3,00,000 may be increased to at least 15,00,000.
KK Sharma
Towards efficient healthcare
This refers to ‘A new beginning for a healthier India’ by Prathap C Reddy (February 7). We need to invest at least 8 per cent of GDP on our healthcare system. We also need better administration. For this we need to create independent institutions with zero political influence.
We have good, qualified people who should be allowed to run the system. The national health policy draft says it will encourage patent monopolies to get more innovation in our pharma sector. This is a dangerous policy; it will put life-saving drugs out of reach for the majority of our people. We have a sensible law on patents and we should not be influenced by big pharmaceutical companies.
CR Arun
Good move
It is a good that the Centre has started operationalising the NITI Aayog in right earnest. The proceedings indicate the usual demands for more funds by almost all States. The Centre would do well to have comprehensive discussions on functions, responsibilities, relations with States, method of operationalising plans and programmes finalised by the Aayog, the way to monitor the implementation of decisions taken and so on, and draft a comprehensive work schedule agreeable to all States. States should also form similar Aayogs, which should keep in close touch with the Centre.
TR Anandan
Coimbatore
Well-meant comments
Barack Obama’s candid observations that “India will succeed long as it is not splintered along the lines of religious faith” and “Acts of religious intolerance in India would have shocked Gandhiji” were plain truths. His well-meant comments were not accepted in the right spirit. It seems unfair on Obama, a politician with a reputation for plain speaking, to attribute motives to his passionate advocacy of religious freedom. Since the BJP’s assumption of power, India’s image as a secular country has taken a beating. Narendra Modi cannot walk the tightrope for long. It would be a tragedy if Hindutva groups were left unchecked.
G David Milton
Maruthancode, Tamil Nadu
Modi’s silence regarding Obama’s misconceived comments on religious intolerance in India is disturbing. Now is the time for Modi to speak plainly about the ground reality in our country and India’s ancient Sanatana Dharma which embraces all people of the world. Obama should prove his true friendship to Modi by listening to him rather than others. He should realise India is a true nation as far as respecting all faiths and following true secularism are concerned.
VS Ganeshan
Bengaluru
Errata
In the interview entitled, ‘Investors are now looking at India seriously’ (February 5), the partners of Religare Health Insurance have been wrongly named. The partners are Union Bank of India and Corporation Bank. The error is regretted.
In the news report, ‘Dilip Shanghvi, India Post too apply for payments bank licence’ (February 5), the chairman of the Muthoot Group, MG George, was wrongly named as managing director. The error is regretted.
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