Letters

Letters to the editor dated June 1, 2020

| Updated on June 01, 2020 Published on June 01, 2020

Post-lockdown strategy

This has reference to ‘Lifting lockdown will help tackle Covid better’ (June 1). While the lockdown was an unique experiment its lifting is a fait accompli. However, it is not clear yet as to what will be the outcome once local trains, metro, buses, malls, etc., resume the service. There is certainly going to be a spurt in the number of cases and while senior citizens can be home-bound it will be very challenging to protect school and college-going children.

The government should come out with a clear plan for schools and colleges, and may start the sessions in low key by having only few hours in a week so that crowding can be avoided. The rest of the classes can be conducted online and laptops can be provided free for students above certain age and requiring such aid.

The government, in the absence of a vaccine, should also notify the protocol and initial treatment to practising physicians so that home care and asymptomatic cases are taken care of and hospitalisation does not become a routine

M Raghuraman

Mumbai

Credit-linked stimulus

This refers to ‘Govt’s stimulus is in the right direction’(June 1). While the onus of extending the credit-linked stimulus measures lies with the financial institutions, and more particularly with the banks, it is imperative for these agents to gear up for timely disbursement of credit to the cash-starved MSMEs and others.

The customised loan products to suit the intended beneficiaries are still in the pipeline in the case of many lenders. While the credit input is more critical than any other inputs, any lag in delivering the credit facilities will be detrimental to the smooth execution of the credit-linked stimulus package and the benefits thereof.

While the credit growth is sluggish on account of the lockdown, the lenders have to accept the challenge of executing the stimulus measures as an opportunity to enhance business and, thereby, augment the earnings. The supply of credit must be regulated according to the capacity available to absorb the credit.

VSK Pillai

Kottayam

Economy in dire straits

The NSO’s revised GDP data for the first three quarters of the previous financial year were on expected lines. It is apparent now that the slowdown was more pronounced than was previously believed and the coronavirus-induced lockdown had only worsened it.

Contraction in key sectors such as manufacturing, construction, trade, hotels, and real estate over the last few quarters will only deepen further as key metropolitan regions of the country with huge industrial base have continued to remain the worst affected by the pandemic.

With households now cutting back on discretionary spending following a drop in their income and job losses, there is no likelihood of any increase in private consumption soon.

It is time the government unleashed measures to revive demand for it holds the key to arrest any further slide in economic growth.

M Jeyaram

Sholavandan, TN

Transporting migrants

This refers to the editorial ‘Chaos on the tracks’ (June 1). There seems to be no end to the miseries of migrant workers. The Centre, after dragging its feet for long, took a call to arrange trains for migrants. However, the ham-handed approach, from footing the train fare to providing food and water during the course of journey for their sustenance, has fallen through the cracks.

The pandemic has exposed the yawning abyss between haves and have-nots. The lockdown has primarily served the interests of the better-off who have been ensconced in the comfort of their homes and, on the other hand, these impoverished populace have been moving from the frying pan to the fire.

Deepak Singhal

Chennai

Erratum

In the news report on savings bonds (BusinessLine, May 30), the headline should read ‘Govt discontinues 7.75 per cent savings bonds’, and not as published. The error is regretted.

Published on June 01, 2020
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