CPI (M)’s new line

The re-election of Sitaram Yechury as the CPI (M)’s General Secretary and the party’s new political-tactical line in tune with the times at the 22ndparty congress in Hyderabad are entirely welcome. They will bolster the morale of the “secular-democratic forces” fighting the Hindutva forces.

On re-election, Yechury unequivocally declared that his party’s main challenge was to defeat BJP. In accepting Yechury’s case for ties with all secular parties including the Congress, the party congress rose to the occasion.

The CPI (M) must be commended for putting the ‘nation’ above the ‘party’ in the face of fears expressed by some delegates from Kerala that any truck with the Congress would be detrimental to the party’s interests.

Looking at the bigger picture, “understanding” or “coordination” with the Congress is no big price to pay in the fight against the RSS and BJP.

The CPI (M) cannot be soft or seen to be soft on the right-wing Hindu revivalist forces. The political resolution gives the party leadership the elbow room to play a significant role in forging Opposition unity.

The relevance of CPI (M) in Indian politics cannot be underestimated. The farmers’ agitation organised by it and like-minded parties In Maharashtra highlighted farmer distress and received a lot of moral support.

Maruthancode, Kanyakumari-Dt

With reference to ‘Modi only interested in becoming PM: Rahul’ (April 24), for the likes of Rahul Gandhi bashing the PM day in and day out seems to be their only agenda. Perhaps the Congress under the leadership of Rahul Gandhi losing more ground. It is clear that the Grand Old Party is bereft of topics, raking up irrelevant issues without realising that such a discourse only sullies their own image. People in general who do not have anything to do with politics are disgusted with this line of approach taken by certain politicians. Offence is the best form of defence will work only some times and not always.

Bengaluru

With reference to “How do we give investments a push?” (April 24), India’s growth story is scripted by domestic consumption. Higher consumption leads to higher production and that would eventually lead to more investment. If so, businesses in India should have invested more to augment their capacities. But in reality, our consumption is not completely fulfilled by domestic production, hence imports are needed, leading to trade deficits.

Government spending on infrastructures like health, schools, electricity, roads, ports and dam will help the economy expand. MGNREGA is currently in force driving rural growth in the short term as it is not aimed at employing people in such tasks that create assets in rural areas.

Job-creation has slowed down not only due to lack of domestic investment but also because of the mind-set of industrialists who focus on mechanisation and automation.

Some unethical practices by corporates have hit the the banking sector. The ease with which businessmen default on loans taken from banks is disturbing, making it difficult for genuine entrepreneurs to access credit .

Cuddalore District Clocking 7 per cent GDP growth is not a mean achievement but if it does not create jobs, it is worth pondering over.

India is mainly an import driven economy, but still local investment will have to flourish to not only create jobs but for ‘Make in India’ to succeed.

Unless the capacity utilisation increases, no entreprenuer will invest in capex.

Banks hit by huge NPA levels have further dampen the environment as fresh credit off take is hard to come by.

With monsoon expected to be good this year, consumption driven sector may get some push.

So a comprehensive debate by all stakeholders where all aspects are discussed and key concerns addressed, will go a long way in reviving domestic investment.

Noida

LETTERS TO THE EDITOR Send your letters by email to bleditor@thehindu.co.in or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

COMMENT NOW