According to news reports, petroleum dealers across the country will not accept card payments as banks are charging them for the same. The Government took the drastic step of demonetising to put the economy on track in the long-run. But the common man is in discomfort almost every day, thanks to inconsistent economic decisions at the Centre and the difficulties experienced by banks. What is annoying is people saying we have to accept the Government’s planning and actions for the country’s better future! People, on the contrary, ask: Where is the planning?

S Ramakrishnasayee

Ranipet, Tamil Nadu

The banks deferring their decision to charge 1 per cent transaction fee on card payments, following which petroleum dealers withdrew their threat not to accept payments through credit and debit cards, has saved the Government much embarrassment. The Modi government has been urging people to escalate cashless transactions following demonetisation and any move to tax card-holders would defeat this purpose.

Incentives for performing technology enabled transactions would boost cashless transactions immensely and the Government should pursue this idea seriously. The Government would also do well to rein in private banks and ensure that no transaction tax is levied on card transactions.

NJ Ravi Chander

Bengaluru

Give e-payments a chance

Tina Edwin has emphasised the need to make e-payments a habit among the people (’Make e-payments a habit’, From the Viewsroom, January 9). It is specious argument; in a country where more than 45-50 per cent of the population are unlettered, resorting to e-payments is like chasing a mirage. Most people even in remote villages have access to mobile phones and smartphones it is not impossible to adjust to the new mode of payment. Give the benefit of doubt to the reforms the Government wants to bring to make life easier.

HP Murali

Bengaluru

Leveraging DeMo

Now that ₹15 lakh crore out of the ₹15.5 lakh crore worth 500 and 1000-rupee notes issued are back in the banks, the entire issue is perhaps more about inadequate tax recovery and less about black money. The fault must lie with our revenue intelligence gathering. The IRS must now be culled from the cream of the civil services and intensively trained in big data hunting. The DeMo has given us data at great cost but do we have the manpower and the nous needed to translate it into tax revenue? We have been taking the easy route to indirect taxes, surcharge and cess that disproportionately burden the common man.

R Narayanan

Ghaziabad, Uttar Pradesh

This refers to ‘Developing a long-term bond market’ by TB Kapali (January 9). The PM’s emphasis on the importance of infrastructure financing through bonds though carries merit but is not realistic considering the prevailing circumstances. There is an all-round decline in bond prices due to selling pressure from banks and corporates amidst ample liquidity in the banking system due to the demonetisation effect. The Government should consider itself one of the market makers towards the creation of a congenial atmosphere through investor-friendly policy decisions. As long as the policy changes announced by the Government are not investor-friendly, growth in inflow of funds will not happen. After all tightening the economy casting a shadow on long-term movement of interest rates and funds flow towards long-term investments cannot go hand in hand.

Srinivasan Velamur

Chennai

Bad move

There have been media reports suggesting that there is a proposal to brand trains and stations Pepsi Rajdhani’, ‘Coke Shatabdi’ and so on. The damaging effects of soft drinks on health are well-known. Hence this move is not at all desirable. Such proposals should not be entertained.

N Vijayagopalan

Thiruvananthapuram

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