MPC’s pragmatic move

The MPC’s decision to keep the repo rate unchanged at 6.5 per cent, while reducing CRR to 4 per cent from 4.5 percent in the backdrop of unabated inflation and a shocking slowdown in the economic growth of the country is pragmatic and cannot be faulted.

The cut in the CRR will ensure higher lending capacity for banks and in all likelihood will support real estate developers to borrow more.

No doubt, the status quo on interest rates will provide predictability for borrowers while keeping monetary policy supportive of economic recovery.

M Jeyaram

Sholavandan (TN)

Water woes

With reference to the article ‘A holistic approach to water conservation’(December 6), given the huge water consumption in the agriculture and industrial sectors, we must ensure minimal wastage of water.

Recycling and purification of used water must be ramped up.

Drip irrigation is one of the ways to minimise waste of water. Water guzzling crops must be substituted by crops that use less water.

States must reward individuals, firms, companies, and corporations for using water economically.

Restoration of water bodies and curbs on over-exploitation of groundwater are crucial. Wastage of water must be penalised.

VSK Pillai

Changanacherry (Kerala)

Fadnavis back as CM

This is with reference to the news report ‘Devendra Fadnavis takes oath as Maharashtra CM’ (December 6). After days of hectic deliberations, Devendra Fadnavis was sworn in as Maharashtra Chief Minister.

The new government must now work to tackle unemployment and prioritise infrastructure development. Although Maharashtra is a prosperous and industrialised State, the Marathwada and the Vidarbha regions remain neglected. Due to agrarian crisis these regions have maximum farmer suicides.

Development of these regions must be taken up on a priority basis. Farm distress and unemployment should be the two areas where the new government should pay extra attention.

Veena Shenoy

Thane

Nuclear power push

Apropos ‘The nuclear option to energy security’ (December 6). Indeed nuclear power has high reliability with low operating cost.

At this juncture of the global call for combatting climate change, nuclear energy with zero greenhouse gas emission could replace fossil fuels with high carbon emission.

With high scalability in production, nuclear energy could reduce the need for fossil fuels and serve as a catalyst for a pragmatic energy mix.

But the disposal of nuclear waste after production creates safety concerns and the public also views nuclear power as risky, creating health problems. Hence the government shows limited interest in developing nuclear energy, despite its environmental benefits.

But the government must push ahead with nuclear energy, given the abundant availability of thorium.

NR Nagarajan

Sivakasi

Published on December 6, 2024