Politicians are the most pampered lot in this nation. They enjoy more than the maharajas did, all at the cost of tax-payer. The latest example of this is the Karnataka government footing the whopping medical bill of its minister Ambareesh, who was also a film star. In UP, the chief minister enjoys his luxury cars when there are no funds for people-oriented schemes. There seems to be no end to this.

VS Ganeshan

Bangalore

Scoring points

The ongoing BRICS summit has many positive takeaways for India. The Chinese invitation to India to attend a summit of the Asia and Pacific Economic Cooperation (APEC) forum should be seen as a significant development. The emphasis laid on finding a solution to the vexed border issue and strengthening mutual trust and confidence is noteworthy.

India also managed to score a few brownie points by making Chinese president, Xi Jinping, accept Narendra Modi’s suggestion of adding one more route for the Kailash-Mansarovar yatra in Tibet, keeping in view the difficult terrain. To cap it all up the decision to establish a new development bank with an Indian as its head is a victory of sorts and shows India's emergence as a dominant player.

NJ Ravi Chander

Bangalore

Total waste

This refers to the news item, “A bridge on the Brahmaputra 17 years in the making” (July 16). Apart from the disappointing delay in building the bridge, where have the skilled and experienced bridge building private and public sector companies gone? However, this delay pales into insignificance reading about two big hospitals in New Delhi not being opened even after 16 years and an investment of ₹150 crore. It is not enough for the authorities to allocate astronomical amounts for infrastructure if serious thought is not given to building them on schedule and managing them well.

S Subramanyan

Navi Mumbai

Cut the duplicity

The proposal to increase FDI in insurance from 26 to 49 per cent is more dangerous than the increase in defence FDI for we are gambling with Indians’ money. Insurance schemes are really a losing proposition for the insured and a highly profitable business for insurance companies.

That is why foreign companies rush in. Insurance companies should cut unnecessary expenditure, reduce the premium amount and avoid profiteering. Nowadays the insured sum is often determined by the agents to boost premiums so that their commissions will be high. Policies must be purchasable directly from the companies at reduced premiums (that is, less commission).

The duplicity of FDI-related insurance companies is evident from the fact that they do not engage in crop insurance business because insuring crops is not a lucrative business. While general insurance companies may be allowed in the private sector, life insurance companies should be government-owned — no FDI at all.

S Raghunatha Prabhu

Alappuzha, Kerala

Budgets are useful

This refers to “We don’t really need an annual budget” by D Shivakumar (July 15). Regular administrative approval for the huge expenditure in various fields and indeed the very necessity for certain items require detailed examination. The revenue is from taxes levied on the people and the Government should be explicit on the justifiability or otherwise, and also invite the comments of the people and the political opposition.

Also it is an important document accounting for the distribution of the revenue for the many arms of government and the projects required to be taken up for the people’s welfare. Even in homes, where small sums are earned and spent for the running of the family, budgets are extremely useful to spend in the best manner and without incurring debts. The Budget has done well in detailing the various heads of expenditure and allocating funds.

TR Anandan

Coimbatore

(LETTERS TO THE EDITOR Send your letters by email to bleditor@thehindu.co.in or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.)

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