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Timing of Fed rate cut
This refers to ‘Are we heading towards higher inflation globally?’(March 28). The current dilemma faced by the US Federal Reserve appears to stem from a lack of coordination between fiscal and monetary policies. This discord has compelled the Fed to determine the timing of rate cuts independently. Among the four influencing factors indicated, global developments stand out due to their significant impact on inflation, necessitating robust fiscal measures for containment. Regrettably, these global dynamics are heavily influenced by political factors such as tariff escalations, sanctions, and policy stances towards China. These political undercurrents are likely to persist, leaving the Fed with limited immediate option.
The concern arises whether the US will once again lag behind in adjusting interest rates, reminiscent of the post-Covid pandemic scenario. It’s time for the US Fed to take a call on whether inflation is transitory or entrenched in real time.
Srinivasan Velamur
Chennai
Productive employment
The National Statistical Office (NSO) and the RBI have recently projected the Indian economy to grow at a healthy pace in 2024-25. However, legitimate concerns about the state of the labour market and the capacity of the economy to generate more productive forms of employment remain. While reaping the demographic dividend would require more productive forms of employment for the country’s youth, there are numerous challenges as the production process has become more capital-intensive and labour-saving. Given that the issue of job creation has been central to India’s development project, it is time we adopted a multi-pronged strategy, from ensuring quality education and skills to facilitating large-scale labour-intensive manufacturing to absorb the millions of low- and semi-skilled workers.
M Jeyaram
Sholavandan, TN
Tribal welfare
This is with reference to ‘Uplift in tribal welfare’ (March 28). Only development and economic growth can empower tribals. This can be done by improving infrastructure, constructing roads, and building hospitals and schools in tribal areas. This requires iron will on the part of the government.
In its quest to become a superpower, the country at no cost should ignore its poor tribal population.
The tribals deserve a slice of development. Let us not forget that insurgents are not born but are direct products of poverty and the state negligence.
Veena Shenoy
Thane
Glaring inequality
It has become glaringly obvious that religion and nationalism are being used to keep the people from fighting for their fair share in national wealth. Much is being made about how the nation is progressing. But 1 per cent of the population holding 40 per cent of national wealth is unacceptable. It is time for the people to wake up and see how the political class is taking them for a ride. People should stop getting involved in emotive issues and instead concentrate on economic issues which would end this staggering inequality of wealth in the nation.
Anthony Henriques
Mumbai
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