Letters to the editor dated April 2, 2021

This refers to ‘Pillars of retail G-Sec market’ (April 2). While most retail investors still prefer to invest in gold and real estate, it is imperative to make available more investment avenues in the financial sector. Investment in financial assets is crucial for growth and development, especially at a time when the economy is set for revival from the havoc caused by the pandemic.

While the pros and cons of investing in government securities are unknown to a majority of retail investors, the promotion of such investment must come from banks. As banks sell various financial products, it is easy for the investor to make comparisons onsafety, liquidity and returns.

Changanacherry

Farmer suicides in India have been mostly by small and heavily indebted farmers. The shift to small-scale model of farming can prove to be a panacea if the farmers are ready and the government is serious. ‘Innovate and diversify’ has become the dictum for every type of economic activity, be it farm or non-farm. There are umpteen examples of small farmers earning well by adopting innovative practices and cultivating newer crops.

Farmer lobbies have to educate their folk about such practices and the government needs to incentivise such small farmers.

Ludhiana

It refers to ‘A reprieve, for now’ (April 2). Whether it was a sudden heart change or actual goof-up we may not know, but for sure politics is dangerously mixed with economics in our country.

Also, it was an embarrassing episode which the finance minister could have easily avoided. Small savings schemes anyway earn low interest. Even after the Assembly elections are over, the government should resist the temptation to reduce interest rates.

Though the market is on a high, a significant portion of household savings still goes into these savings schemes and hence should not be tinkered with for now.

Noida

Had it not been for the election in some States, the government would not have backtracked on its notification to cut interest rates on small savings schemes.

It is the small savers who are giving a big financial cushion to the Central government for meeting its different expenditures. Even if the government does not help senior citizens tackle their financial problems caused by escalating costs, it should at least not punish them by reducing interests on their hard-earned small savings.

Hyderabad

All sections are affected by the falling bank FD rates in these Covid times, with rampant job losses and salary cuts, especially in the private sector. The worst affected however are the senior citizens.

There are instances where their pensions have not been revised for decades, as in the case of pre November-2002 bank retirees. In their old age, the seniors wish to live with dignity, depending on their children only for emotional support. In the circumstances, whether the government’s U-turn is to ‘rectify an oversight, or is a temporary poll driven hindsight’, it is welcome.

Chennai

Apropos ‘From ticket to superstardom to Dadasaheb Phalke award’ (April 2), Rajinikanth richly deserves the Dadasaheb Phalke award bestowed on him by the government.

Rajinikanth is a legend of Indian cinema and rarely does an actor enjoy such fan following and fame as he does. Rajini has maintained his charisma even at the age of 70 years, which is not a small feat. He also commands respect from the fact that he has never endorsed any product, which is a rarity in India.

Many popular actors/actresses/cricketers endorse products, and many a times harmful ones, just to earn more money. He should, however, be made the brand ambassador of Swachh Bharat Abhiyan and other popular government schemes.

Thane

LETTERS TO THE EDITOR

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