See it right

This refers to ‘Inflation targeting of the wrong kind’ by A Seshan (March 19) which offers insights into the historic relevance of the RBI’s role in the economic growth of the country. The criticism about the central bank deviating from its mandated role (the writer has relied on the preamble of the RBI Act) needs to be seen in the right perspective.

Price stability being a function of, among other things, the productivity of various sectors including agriculture and manufacturing, resources availability, taxation policy and exchange rate, the RBI’s success in maintaining price stability will depend also on fiscal management and policy support from the Centre. For now, we need not read too much into the lower limit of 2 per cent given in the inflation target.

Having said that, it would be too soon to expect the RBI’s monetary policy to have inflation targeting as its sole or primary objective. In the Indian context, unlike other central banks, for historical reasons, the RBI has taken on itself several responsibilities in relation to economic development. It will take time to put in place systems and/or institutions to shift all of them. The need to shift each such responsibility including public debt management is still in dispute.

Like the railway time table tells about the late running of trains, the inflation target will tell us what was the aim of the policymakers at a given time. Aberrations will be explained from time to time.

MG Warrier

Thiruvananthapuram

Plain waste

A contempt proceeding should have been drawn up against the Centre and States for wilfully violating the Court’s interim instructions not to link the Aadhaar card with social benefits. People have been made to run from pillar to post to get gas subsidies at a time when the decision of the Unique Identification Authority to link the Aadhaar card with gas subsidy was being challenged in the Supreme Court. Leave aside the question of public harassment, it is also a loss to the public exchequer.

Arun Gupta

Email

Understand the problems

This refers to your edit, ‘Grounded by politics’ (March 19). It is a fairly easy job to legislate the land acquisition Bill when you understand the problems on the ground. Farmers are willing to give their land when they know the right reasons for it.

The compensation must be fair. While 62 per cent of poor farmers are willing to give up farming if given an alternative job, the survey also points out that they are willing to continue farming if the government provides them quality power and water supply.

Government policies play a very important role in the success of any sector. The government is the reason behind all the problems farming faces today. The procedural hurdles faced by the acquirer of land is a major issue, which is in the domain of the government and nothing is being proposed to shorten this delay. You will have to run from pillar to post to find the authority responsible for the government end of the process.

CR Arun

Email

The proposed LARR Act is a myopic legal step. India has been struggling hard to cope with the import of oil and fertilisers. With a heavy cost on its import bills, they have been India’s nemesis for a very long time. Although oil and fertilisers are not consumed by all 125 crore Indians, the government has been compelled to shell out enormous amounts of foreign exchange to import them. On the other hands, farmers have been firm in protecting their profession despite heavy losses. They are keen to save our nation by withholding their farm practices.

If the government grabs prime agricultural lands for industrialisation the nation will suffer in future for want of foodgrains. The must be supported to hold on to their lands. Industrialisation hasn’t proved to be a major employment provider. Instead of destroying agricultural land, the government must look for wastelands for industrialisation. Farmers and farmland need to be protected keeping in mind development.

A Prabaharan

Tiruchirappalli, Tamil Nadu

Watch that watch

This refers to ‘Time trouble’ by Lucas Laursen (March19). A watch is one of the most personal devices sitting on one’s wrist. The primary objective of any watch should be to show the correct time. The watch you wear is a true expression of your personal taste. The top executive of a company that makes costly watches once said that he wears a comparatively low-cost watch made by his company as it unfailingly shows the correct time always, and that is what he wants. Let the watch remain a device showing the correct time rather than a costly ornament displaying pomposity. After all, it is only a watch.

CG Kuriakose

Kothamangalam, Kerala

We need governance

It is unfortunate that in our country everything is about politics and politicking; the land acquisition Bill is not an exception. Instead of thrashing out thorny issues, the political parties are worried about their future after five years. If we want growth, we need a government that can take decisions positively and quickly. No government can function without the cooperation of the opposition parties. Once the election is over, the political parties should have a national vision and agenda, so that the quality of life and standard of living can improve for the poor and downtrodden.

Let political parties sit together and act positively. The Opposition should eschew its confrontational style of politics and the ruling party should come down from its high horse.

SA Srinivasa Sarma

Hyderabad

A tragic death

It is sad that a promising and popular IAS officer met a tragic and untimely death in mysterious circumstances in Bengaluru. He was widely perceived to have paid with his life for his uprightness. A probe will establish whether it was an induced suicide or a foul murder. If the State government has nothing to hide or fear, it can order a CBI enquiry in deference to the demand of his next of kin.

The demand for a CBI probe is all the more justified in view of the fact that there is a conflict of interest between the business dealings and the responsible positions of some leaders. The young officer's death brought to light the enormous pressure, mainly due to political interference, honest officers are required to cope with when they choose to work in defiance of the politician-Mafia nexus. Most officers in the higher echelons of the Civil Service choose the easy option of avoiding a confrontation with the rich and powerful.

Corruption is so endemic in the system that conscientious officers cannot escape the consequences of actions that deny pecuniary advantage to vested financial interests. The system ejects or eliminates whoever refuse to defer to whatever ‘the patrons of politics’ who fund political parties decide. Ravi would have been alive if he had not taken on the sand mafia, real estate sharks and tax evaders. It is a terrible thought that the lives of those officers who perform their duties without fear or favour are cut short.

G David Milton

Maruthancode, Tamil Nadu

COMMENT NOW