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Flipkart, Swiggy layoffs
The announcement of job cuts by Flipkart and Swiggy totalling 1,400 employees before their IPO for cost cutting is discouraging while these companies were doing well. The losses of these e-commerce companies will not be overcome by such layoffs.
The accumulated losses of Flipkart and Swiggy will not entail any Income Tax liability for a very long time.
Such accumulated losses, cash burn and phenomenal increase in expenses, are a unique feature of e-commerce companies.
The upward valuation despite accumulated losses needs scrutiny of SEBI. Corporates should avoid lay offs.
Vinod Johri
New Delhi
Rooftop potential
The Editorial, ‘Bright prospects’ is perfectly fine.
The scheme of providing roof top solar panels should be considered with extension of subtantial subsidy to the tune of not less than 75 per cent.
The rest 25 per cent cost also may be provided by the government to add. in the monthly bills.
Even those who are provided free power should be consided for this scheme as the power generated may be purchased by Discom to help meeting the power deficiency as well as to make it an income generating scheme for those poor. The government should popularise this with more vigour.
AG Rajmohan
Anantapur
Taking up rooftop solar power for 10 million homes now and to reach 40 GW capacity by 2026, is a tall order. This is the first scheme to set a target for the number of households rather than the amount of electricity to be generated.
Rooftop solar power to less affluent households requires fresh initiatives. Incentives such as subsidies, tax holidays, quicker depreciation, duty concessions can promote unconventional energy set ups, but these can not continue forever.
Solar sector needs improved technologies, both for cost reduction and effective scaling up.
R.Narayanan
Navi Mumbai
Financial literacy
This is with reference to “Financial inclusion efforts need fresh impetus”, (January 26). Financial inclusion is crucial for eradicating poverty.
It refers to delivery of banking services to masses including privileged and disadvantaged people at an affordable terms and conditions.
Lack of accessible, affordable and appropriate financial services has been a hindrance to growth.
E-banking training and financial literacy programmes should be organised.
P Sundara Pandian
Virudhunagar
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