Railway finances
This refers to ‘Railway Budget FY24: What the stakeholders are expecting’ (January 23). The Railways has been making rapid strides in various areas. After becoming a part of the Union Budget, announcements such as introduction of new trains, increasing the frequency of services and funding for ongoing projects have taken a back-seat.
Cutting down the operational cost, increasing the revenues and reducing the dependency on coal-based power are the major challenges that the Railways has to grapple with.
Thrust on asset monetisation, hiking suburban ticket fare, reviewing the existing norms for fare concessions extended to various categories, etc., would help boost revenue.
RV Baskaran
Chennai
Raise tax exemption limit
This refers to ‘FM may put more money in middle-class pockets’ (January 23). The basic income-tax exemption limit has been stagnant at ₹2.5 lakh for long and needs to be drastically revised to at least to ₹8 lakh, the gross annual income limit prescribed for availing economically weaker section (EWS) reservation. The standard deduction also needs to be raised from the current ₹50,000 to at least ₹2 lakh.
Most of the senior citizens are dependent on interest income earned on fixed deposits, their life-time savings. But their interest income on fixed deposits has been dwindling due to low rates. Rising medical expenses are making a big dent on the meagre incomes of senior citizens. As such, there is a need to increase the exemption limit of ₹50,000 on medical expenses for senior citizens to at least ₹2 lakh.
Kosaraju Chandramouli
Hyderabad
Cash still rules
This refers to ‘Why currency is still in demand’ (January 23). Despite the growing popularity of digital payments systems, currency still dominates as a medium of exchange. Currency is a preferred medium for evasion of tax. There’s abundant use of cash in real estate and construction activities, despite various checks and balances. Despite the introduction of electoral bonds to facilitate donations to political parties, cash is playing a pivotal role in election expenditures.
An attitudinal transformation is crucial for extensive use of digital payment modes and reducing the use of currency. The former needs further strengthening through more incentives and making available the necessary infrastructure across the country, especially rural regions.
VSK Pillai
Changanacherry, Kerala
Police reforms
Apropos ‘PM tells police chiefs to repeal obsolete laws in States’ (January 23), the legal and institutional framework governing police matters in India was inherited from the British, and had been established by the latter to stifle the freedom movement. However, even after 75 years of Independence, the police force and its corresponding legal framework has not undergone reforms to reflect the democratic aspirations of the people of India.
Against this backdrop, the Prime Minister’s advice to repeal obsolete laws is no doubt pertinent, but it is equally important to insulate political meddling in the functioning of the police.
N Sadhasiva Reddy
Bengaluru
Erratum
Apropos the news article on RBL Bank’s third-quarter results published on January 21, 2023, the bank’s cost of deposits should read as 5.5 per cent and not as reported. The error is regretted.
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