Financial tightrope
Apropos ‘Telangana finances: New Congress govt will have a tightrope walk’ (December 4),
the Congress will inherit a very difficult financial position. The reasons are multiple -- soaring expenses, weak tax revenues, freebies promised.
But the Congress party has also announced several freebies which it cannot meet immediately. The next few months will be crucial for the Congress.
Katuru Durga Prasad Rao
Hyderabad
MPC can breathe easy
This refers to the report ‘Monetary policy panel likely to continue status quo on repo rate’ (December 4). Despite the CPI inflation persisting beyond the RBI’s comfort zone, the robust GDP growth is testimony to the government’s robust economic policies. Various challenges like rising crude prices, the patchy monsoon’s impact on farm output, external political turmoilare persisting; which the MPC must consider while setting policy rates.
Non-fiscal measures to control prices are indispensable to sustain growth and price inflation. The robust GDP growth does not warrant a repo rate hike. The RBI could even think of cutting policy rates.
VSK Pillai
Changanacherry (Kerala)
Congress heartland flop
Apropos the Editorial ‘Saffron tide’ (December 4), the election results of the four States Assemblies reflect the BJP’s complete domination of the Hindi heartland and its ability to defeat the Congress in a straight fight under the astute leadership of the PM Narendra Modi.
Despite the consolation prize of Telangana, the Congress’ failure to retain Rajasthan and Chhattisgarh proves that Rahul Gandhi’s campaigning on caste census and corporate corruption has failed to yield dividends.
BRS’s KC Rao and the Delhi’s CM and convenor of AAP, (both being the PM aspirants) have been made to eat humble pie. While the outsmarted BRS managed to secure 37.37% votes in Telangana, AAP’s vote share was around 1% in Madhya Pradesh.
Needless to say, BJP’s splendid performance may adversely affect the ‘ambitious’ game plan of various political parties belonging to INDIA group to ‘dethrone’ PM Modi during 2024 general elections. Mind you, TMC’s Mamata Banerjee has already blamed the Congress leadership for its abject failure to ‘rein in’ the BJP.
SK Gupta
New Delhi
Curbing financial fraud
This is with reference to ‘Preventing Financial crimes in an AI – enabled market’, (December 4). The rapid growth in the financial sector, coupled with the increasing digitisation of financial services, has given rise to more sophisticated financial crimes.
Traditional methods of investigation often fall short in identifying and combating them. Fortunately, artificial intelligence (AI) has emerged as a powerful tool in this fight, enabling a more effective and efficient approach to financial crime investigations.
AI is a powerful tool that is revolutionising the finance industry’s approach to combating financial crime and keeping pace with new criminal tactics.
S.Muthulakshmi
Virudhunagar (TN)
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