Promises galore

This refers to the Edit “Troubling promises” (April 9). The Congress party’s manifesto has a long list of welfare measures and freebies without spelling out its steps to enhance economic growth and revenues to fund these proposals.

Politically it claims to repeal many of the NDA government’s bold decisions — Article 370, triple talaq and CAA.

The Congress has been attacking the Prime Minister’s foreign policy, but how much it will roll back is not clear.

YG Chouksey


Mudra’s progress

This refers to “Record surge: Mudra loans topped ₹5 -lakh-cr. Mark in FY 24” (April 9). The quantum jumps under small business loan segment by PSBs with significant proportion of women beneficiaries is noteworthy.

Mudra scheme extends financial support to individuals and small businesses.

Due to lack of skills and expertise, there were heavy cash burns by these entities resulting in maximum bank loan defaults.

Even, where knowledge base of the entrepreneur is high, small businesses are unable to sustain in a market dominated by e-commerce besides complex return filing and tax compliances process.

With the innovative digital monitoring and frequent customer interactions , the loan defaults under PMMY can be reduced.

Sitaram Popuri


Market peaks

Indian Market cap touched a new high at ₹400 trillion on Monday. The Buffet Indicator that measures m-cap to GDP ratio, currently stands at 1.3 (133 per cent) against the 10-year average of 0.93, a significant deviation from the trend.

In a rare one-off, it had touched 1.46 in 2007. The 2008 market collapse that followed had other causes. Though elevated ratios indicate overvaluation of stocks, they must also be seen as red flags to investors.

Elections in India and later in the US, the geopolitical tensions, climbing price of crude, to cite some, will be major factors. Rising gold prices is also a factor.

R Narayanan

Navi Mumbai

Olympics and India

With reference to the article ‘Why the 2036 Olympics bid is too ambitious’, there is no harm in being ambitious and wishing to host the Olympics in India in 2036, but we must do the cost benefit analysis first.

The costs of hosting the Olympics have skyrocketed with uncertain economic benefits to host cities. 2020 Olympic host city Tokyo has faced multibillion dollar debtSome cities have withdrawn their bids fearing the financial impact.

Yes, there are intangible benefits like global visibility and national pride but they are not significant enough. So it would be better if we strive to become a sporting powerhouse first.

Bal Govind