Letters. Lifetime housing for CMs

The Supreme Court (SC) has struck down a law brought in 2016 in Uttar Pradesh Assembly, providing lifetime housing to the former chief ministers. The Court in its order held that former CMs of the State are not entitled to government bungalows and any former CM currently living in a government bungalow will have to vacate it now. So its May 7 verdict effectively nullifies the Section 4(3) of UP Ministers (salaries, allowances & miscellaneous provisions) Act, 2016 which had then allowed former chief ministers to occupy government bungalows indefinitely. In fact, this Act was given effect to by the UP state govt to circumvent the Apex Court’s order issued in August, 2016 stating that former CMs were not entitled to have any government accommodation.

Interestingly, the list of those former CMs of UP who will be adversely affected by this far reaching order includes Union home minister and BJP leader Rajnath Singh, Rajasthan Governor Kalyan Singh, Mulayam Singh Yadav, BSP supremo Mayawati, ND Tiwari, Ram Naresh Yadav and Akhilesh Yadav. But these former CMs may soon join hands and take legal steps to obtain a ‘stay’ while filing a ‘review’ petition to be heard by the larger bench of the Supreme Court.

New Delhi

With reference to news report ‘Why India Inc is selling more but profit less’ (May 7) is a matter of serious concern. The decreasing profit margin trend in spite of the growth in sales of all most all companies, owing to the increasing costs of raw material, fuel bills and finance charges etc. will have a deleterious cyclical impact from various angles.

The cash crunch in the system would disturb the operational performance and hamper the ability of companies to raise further resources. Rising crude prices and global trade restrictions have led to the present situation and the state has to come to the rescue of India Inc. by ensuring the availability of raw material in abundance at competitive prices besides extending funding support through more number of government sponsored venture capital funds.

Bengaluru

With reference to the report “₹500 notes worth ₹3,000 crore printed every day” by the Economic Affairs Secretary (May 7). In this context the Secretary should examine the position of lower denominations such as ₹50, ₹20, and ₹10, which are in short supply but are in greater need by the ordinary people in their day-to-day jobs. Lower denomination currencies are in much greater demand in retail markets too. The government should also consider the issue of currencies of ₹1,000 which are required more than ₹2,000 notes by the middle class. There is actually need for the government to ascertain the availability of currencies of all values and take decisions based on the market circulation and ready availability for the common man.

Chennai

The unrest among bankmen, especially PSB employees, on the delayed wage settlement which is due with effect from November 1, 2017 and the paltry offer of 2 per cent hike has to be resolved amicably. The IBA’s plea of IBA that the financials of the banks are weak to bear additional burden is not a valid argument.

Most of the PSBs , after imposition of PCA, have committed to turnaround plan and the employees at all levels are contributing their best to regain the lost glory. It is an established fact that the set back in financials is due to higher provisioning for NPAs. Further numbers revel that 85 per cent of the delinquent loans are from big ticket advances, over which 98 per cent of the employees have no role in sanctioning.

Further, the operating profits of PSBs has been in the ascending trend, though there are net loss after provisioning for bad debts. The employees have already foregone some of the monetary benefits. Any further denial of a decent compensation, at least at par with central government employees, will demoralise the work force. It is high time that government steps in to defuse the situation and ensure an amicable settlement, which will motivate the young work force.

Madurai

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