The exit of Acharya

With reference to ‘RBI Deputy Governor Viral Acharya quits’ (June 24), it was highly intriguing to learn that Acharya, in-charge of the RBI’s monetary policy department, has resigned six months before the scheduled end of his term. Significantly, his unceremonious ‘exit’ comes within six months of former RBI Governor Urjit Patel having submitted his papers in December last (nearly nine months before the end of his scheduled term) over his growing differences with the government.

Also, notwithstanding the fact that the MPC ‘unanimously’ voted for a 25 basis point cut in the repo rate at its June bi-monthly meet, Acharya was reportedly not truly ‘convinced’ about the MPC’s “please all” move in the extant national economic situation.

It may also be recalled that Acharya had strongly batted for the central bank’s constitution- mandated autonomy even as the issue of transfer of its so-called ‘excess capital reserves’ to the government assumed unprecedented proportions which could have led the government to constitute a panel under Bimal Jalan, the final report of which is expected by the July end. Who knows, Acharya might have also got an inkling about its likely recommendations, prompting him to call it a day.

Bengaluru

This is with reference to ‘Move away from subsidies, sooner than later’ (June 24). Many of the problems facing rural India can be solved by encouraging agricultural and allied activities and motivating youth to take farm-based activities. This can be done not by subsidies and freebies but by educating the rural people to take up agriculture as a profession/source of income. The government should take steps to improve our agricultural universities and set up more such universities on the lines of IIMs. This can also be done by introducing a agriculture as a subject at the school level.

The first task of the government is to create job opportunities for the younger generation in villages. Sustained economic growth with investments in infrastructure projects, especially in labour-intensive industries, and encouragement of small scale and cottage industries will go a long way in creating employment opportunities for the youth in villages.

Also, since tourism is a flourishing industry, the villages around the tourist spots should be well connected so that the villagers can sell their handicraft and local goodies at the tourist spots which will help improve their livelihood.

Thane

In a federal structure with a multi-party system, the larger public-interest demands a collaborative work-relation amongst political entities and earnest efforts to uniformly prioritise solidarity and growth, which appear to be a distant reality at present. Irrespective of the timing/frequency, elections ought to be envisioned as a mechanism to address the civic, state and national issues — and not as a platform to allege or derogate counterparts. One election is, therefore, expected to be a viable option to fulfil the key socio-economic goals over vested interests and prevent time/effort from being expended towards futile tasks. However, a one-time nationwide poll is challenging to implement on account of resource/manpower issues and efforts needed to synchronise tenures amongst governments at States and the Centre. Also, the poll ought to be able to address local as well as national issues equitably.

New Delhi

In Bihar more than 150 kids lost their lives to the outbreak of encephalitis. Most of the children who succumbed were dalits. To bring in the ‘caste angle’ to what is essentially a human tragedy is not to be casteist, but to emphasise the greater vulnerability of lower castes. Medical scientists have found out that malnourished children who eat litchi fruit during the day and go to bed on empty stomach are more vulnerable and less immune than well-nourished children who miss the supper after eating the fruit. The real killer is not the fruit, but malnutrition, a by-product of dehumanising poverty.

Marthandam, TN

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