This is with reference to ‘Govt roadmap to step up efficiency’ (September 21). The Central Government has certainly taken a good decision to cut down the time lag in forwarding files, by allowing decisions to be taken at a single point in most of the cases. The authorities should also ensure accountability at all levels and run a time-bound system wherein people’s issues will be resolved as early as possible. Accountability and co-ordination are certainly lacking in many government departments.
Katuru Durga Prasad Rao
This refers to ‘Working to create a single KYC for financial sector: FM’ (September 21). Customers are being pressured by banks and AMCs to submit KYC documentation despite furnishing relevant information beforehand.
This involves verifying customers’ identity and address by asking them to submit documents that are accepted as relevant proof. However, in most cases, KYC has only served to complicate procedures, requiring huge paperwork on the part of service providers and making customers run from pillar to post for filing necessary or sometimes irrelevant documents.
N Sadhasiva Reddy
Apropos ‘PLIs alone can’t spur investment’ (September 21), the measures to stimulate investment need to be holistic. The increasing policy rate is pushing the cost of borrowing, affecting in the process the growth in investments. And the diminishing purchasing power of consumers is hurting consumption growth. Apart from the Production Linked Incentive scheme, it is essential to introduce an investment-promoting taxation system, bring down the bad assets of banks, and kick-start stalled projects.
Testing times for edtechs
Apropos ‘Learning the right lessons’ (September 21), indeed the edtech sector is facing heat with huge losses, leading to some declaring insolvency and laying off staff. The edtechs earned huge profit during the pandemic due to increased demand for online classes. With normalcy returning, students are back to offline classes, resulting in falling demand for edtechs.
Tale of Indian coffee
This refers to ‘Telling the tale of Indian coffee’s distinct features’ (September 21). Indian coffee has its niche in the global market, mainly due to its contribution to biodiversity and helping mitigate environmental degradation. However, the process of launching a sustainability code is purely an agro-scientific process which requires at least one full production cycle to achieve, that is nearly one year, as coffee is an annual crop.
Halekere Village, Karnataka
This refers to ‘Govt ‘in no hurry’ on medium-term inflation target: Sources’ (September 21). It’s intriguing to learn that the government is okay if the RBI took two years or even longer to get inflation down to its medium term target of 4 per cent, as its fears aggressive rate hikes could hurt growth. Despite the Centre and RBI having acted in close co-ordination earlier on various key issues, they do not appear to be on the same page now when it comes to urgently ‘reining in’ retail inflation.