Letters to the editor dated July 15, 2021

This has reference to ‘How India Inc benefited from the pandemic’ (July 15). One tends to agree that several domestic factors in terms of easy liquidity, low interest rates, reduction in overhead costs, etc., have contributed to listed companies to fare well in spite of pandemic hitting the economy.

In the same breath one should not forget to consider the contribution of external players like foreign investors, both portfolio and direct, who reposed faith in India’s growth story and continued pumping money into the country. Also, the approach of US regulators in terms of continuing with easy money policy have contributed to the sustained growth of the domestic stock market.

Going by the signs, the economy is set to make a V-shaped recovery provided Covid third wave does not play spoilsport in the whole recovery process. But based on past trend, once US regulators start taking measures to tighten their monetary policy through tapering of asset purchases leading to spike in interest rates, the same could be expected to have an impact in forex inflow contributing to fluctuations in stock market indices.

Chennai

‘Demonetisation, a success’ (July 15) highlights the positive aspects of the much vilified exercise implemented in late 2016. The discerning Indian public is used to seeing the opposition parties criticising every move of the government of the day.

While the temporary hardship caused to the public by the exercise is undeniable, what is equally indisputable is the ‘hitherto reluctant individuals’ switching over to digital transactions, besides millions of evaders being brought into the income tax net. Additionally, the action now being taken against those who deposited unaccounted money, in the form of de-recognised currency notes, into their bank accounts, is encouraging. One only hopes, the action against all the other evaders too continues unabated.

Chennai

This refers to ‘Why labour unions are on the decline’ (July 15). Some of the other factors which have led to the fall in trade union membership are: One, more companies are adopting proactive HR policies aimed at creating employee engagement. Two, there is a marked decline in the quality of union leadership at higher echelons.

Three, the government has indirectly backed deployment of contract labour by ignoring the provisions of the existing Act on the subject. And, the unions in India are affiliated to major political parties for support and growth — and since the BJP is on the ascendancy, the power of the unions to protest has weakened.

Pune

Despite warnings from health experts about the third wave, people now seem lax in following Covid appropriate behaviour which will only allow the contagion to run riot.. The images of people flocking to hill stations and markets by throwing caution to the wind, and the permission granted by the UP Government for Kanwar Yatra could trigger an another avoidable health emergency in the country.

Developments such as sluggish pace of vaccination, low rate of testing and rise in Covid infections in the North-East, Kerala and Maharashtra do not bode well for the country. Sprucing up the vaccination drive and meticulous adherence to Covid protocols will go a long way in averting a third wave.

Sholavandan, TN

The third wave of Covid will primary be led by the Delta variant, which is know to transmit easily. Its prognosis is different from the earlier forms and there’s likely to be new challenges in its treatment. The only remedy as of now is to get vaccinated.

In India, only about 9 per cent of the population has been vaccinated, and is therfore extremely vulnerable.

Before allowing events like Kanwar Yatra, the administrators need to recall the traumatic second wave when cases touched as high as four lakh per day.

Navi Mumbai

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