The amendment to the new Companies Act is required only to remove the anomalies and bring more clarity. India Inc’s claim that it is too stringent only highlights the attitude of companies which want loosely worded laws so they can work around them to their advantage. The provisions in the new Companies Act which have been brought in to improve corporate governance, accountability and compliances should be retained.

Sridhar Narasimhan

Email

Don’t tax elders

Senior citizens need financial security. Their problems must be minimised on the tax front. The requirement of submitting form 15H for income below taxable limits for no TDS must be done away. Either their tax exemption limit must be raised to ₹10 lakh or their whole income be exempted from IT. Advance tax must be abolished for all senior citizens. It would also be a good idea to raise the reimbursement of medical expenses from ₹15,000 to ₹30,000 without the submission of bills. It should cover all assessees including self-employed individuals. The income of defence personnel should be exempt from income tax and wealth tax.

Mahesh Kumar

New Delhi

Dollar rule

Strangely, even as the dollar has been steadily declining for three decades now, it has lost almost half its value against other major currencies since 1985 and is down 33 per cent in the past 11 years alone, it is still the tallest global currency. Monetary recklessness such as QE ought to have pulled down the dollar’s value. Yet investors continue to shift cash to the US, boosting the dollar through increased inflows not so much from export sales as from foreign investors. In effect, every other economy has become an unwilling underwriter to the mighty dollar and may well remain so till other economies gather sufficient clout.

R Narayanan

Ghaziabad

Liberalise imports

Be it Coal India or private players, what the mining industry needs desperately is mining equipment and technology. The Government has to seriously consider liberalising the import of mining equipment and ensure single window clearance. SCCL has already floated a global tender for equipment not being manufactured in India and so has Coal India.

Amar Bhasin

Cherrybrook, Australia

Fare hike overdue

The railway fare hike was long overdue. Nothing in the world comes free and anything which comes free has no value to the person who receives it. In the name of vote-bank politics there has been a systematic stripping of the national assets by erstwhile ministers. While the costs have been shooting up for all goods and services, these have to be recovered from the users. The UPA did not do anything to recover costs. There is a limit to subsidisation.

Ravi Patankar

Email

Basically irrelevant

This is with reference to “Why the Left is still relevant” by MB Rajesh (June 23). In Kerala, the bastion of the Left, there are no employment opportunities for educated youth. High wages for workers in Kerala has nothing to do with Left influence; it is due to Gulf money or the successful implementations of family planning. Had it been the influence of the Left, West Bengal would have also seen high wages.

AVS Kumar

Kochi

Bank employees’ woes

Every time bank employees are forced to go on strike for wage revision it leads to loss of pay for employees and financial hardships for the public. The employees of almost all other departments in India enjoy immediate wage revision without having to go on strike. Earlier, bank jobs were coveted. No longer. Work pressure is escalating and bank employees draw far less. There are too many anomalies among among the various cadres of employees. We need a reasonable wage settlement.

G Devi Prasad

Bangalore

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