Digital success

Apropos, ‘Digital Public Infrastructure — a remarkable journey,’ (May 6), India has built a world-class digital public infrastructure that has lessons for many countries.

The country has effectively integrated technology into the fabric of its society to ensure economic inclusion for all citizens, while it has been embodied in a robust digital infrastructure enabling cash-less transactions, seamless service delivery, leading to inclusive growth.

The digital India’s commitment to sustainable growth is evident in its strategic use of digital tools to promote digital equity and progress towards SDGs focused on poverty, gender equality, economic growth, and reduced inequalities.

N Sadhasiva Reddy


Looking ahead

This refers to the article, ‘Next government must go back to basics’ (May 6). India’s labyrinthine tax system has been left intact by successive governments, leaving both the rich and poor aggrieved.

The BJP government removed wealth tax to signal it’s pro-rich character. It further brought down the corporate tax. Things meant for the rich like gold and diamond are taxed the least. But the poor and the Middle Class are forced to pay even for consuming essentials like salt, garment, rice etc.

The rising inflation is also hurting the poor as it results in sharp reduction in domestic savings and spending.

AG Rajmohan


Fintechs under pressure

It is hard to understand the logic behind the directive of the RBI to the fintech companies to moderate growth. If there were any lack of regulatory compliance, the RBI could have asked them to fix the issues.

Unfortunately the regulatory body has asked them to slow down which would naturally affect the future plans of the company.

The RBI should take all the stakeholders into confidence before making any such announcements affecting them. It is this kind of uncertainty about India that adversely affects the inflow of foreign money into Indian markets.

Anthony Henriques


Fed signals

This refers to the Editorial ‘Positive signal’, (May 6). Time and again, the US Federal Reserve shows its reluctance to cut rates and remains focussed on reducing inflation to 2 per cent.

But the Fed’s slow pace in shrinking its balance sheet and flexibility in its ‘Quantitative Tightening’ are positive signals to India that Fed wouldn’t hike rates anytime soon, which reduces the risk of capital flight.

At this juncture of the Indian economy’s fundamentals are strong and with the Fed’s soft pedalling, India can go steady on its Monetary Policies and cut rates only when inflation is well under control.

NR Nagarajan