Letters to the editor dated August 27, 2020

The RBI’s bleak report on the state of the economy only reinforces that the Covid relief package had proved hollow. In this huge disruption to the supply-demand equilibrium, normal financial tools alone are inadequate.

Borrowing becomes a must to address the health intervention costs of the virus and for sustaining an idle economy through the downturn. The post-Covid era belongs to innovative economies that are committed to growth and not shackled to fiscal purity.

Navi Mumbai

This refers to ‘Digital farm loans speeding up credit delivery’ (August 27). Agriculture has emerged as the only silver lining in an otherwise gloomy economy weighed by Covid-induced downturn. Crop loans offered through Kisan Card Card are available to only a small section of farmers. And, delays in crop loans lead to farmers borrowing from informal sources. Often, the governments resort to loan waivers, which in turn lead to higher market borrowings and NPAs for banks.

While such loan waivers do not address the fundamental problems gripping the agrarian economy, they put an extra burden on the economy.

Digital platforms can improve farmer livelihoods by liberating them from bureaucratic and legal controls. These platforms are hassle-free, cost-effective, and time-saving. Moreover, they tend to liberate the farmers from unnecessary paperwork and political clout. A national data platform and digital interface would bring about cooperative federalism in agriculture.

Nainital, Uttarakhand

Apropos ‘Sir Dorabji Tata and the Olympics’ (August 27), hats off to the visionary who encouraged sports in India. Sports should be wholeheartedly encouraged in schools right from the primary level, and capable players should be supported by the government.

Even popular sports now get a lukewarm response as most sports bodies are controlled by powerful politicians. Eminent sports personalities should be encouraged to train youngsters in their respective fields. One of the main reasons why children these days are susceptible to various diseases is the lack of exercise and non-participation in sports.

Thane

This refers to ‘Invest in quality stocks’ (August 27). It is not surprising that gold is now the best medium of investment, thanks to its prices going up and quick liquidity during financial contingencies. I had the experience of buying gold at ₹50 per gram and now it costs around ₹5,000/gram — a hundred-fold jump. The pandemic has crushed many companies, which are struggling to even service their debts. At this juncture, there seems to be hope only for companies producing life’s essentials. Hence, one must be cautious about the stocks one is investing in. In times of financial turmoil, there is no better investment avenue than gold.

Sivakasi

It is unfortunate that the government is firm about conducting the JEE and NEET exams as scheduled, in early September, despite a chorus of voices — from medical experts, students and political leaders — for their postponement. No doubt exams and careers are important, but they are not more important than health and lives; they are not the be-all-and-end-all of life.

The need to save students from exposure to the risk of infection, as against saving an academic year should resolve the dilemma about whether to conduct the exams now or not. We have evolved to adapt, avoid risks and survive; how best we can respond to the Covid-19 pandemic should be our overriding consideration.

An overwhelming majority of JEE-NEET aspirants are in favour of deferment of the entrance exams. The downloading of ‘admit cards’ by students should not be misconstrued as their willingness to take the exams. In fact, students are running a campaign on social media sites for the deferral of exams.

Maruthancode, TN

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