Letters

Letters to the editor dated September 3, 2021

| Updated on September 03, 2021

Borrowing costs

This refers to the editorial ‘RBI and G-secs market’ (September 3). As the economy is still in the process of reviving from the effects of the pandemic, the Reserve Bank is trying to accelerate economic growth by keeping borrowing costs at lower levels.

Keeping the repo rate unchanged despite the inflationary tendency is a step in this direction. The growth-boosting measures of the government need sufficient liquidity and the central bank is ensuring the same through its various credit-linked and monetary policy measures.

Although the Central Government envisaged delinking public debt management from the RBI, it is still under the control and management of the latter. Since the RBI is overseeing the functioning of the G-sec market, there isn’t much volatility in market interest rates and the government is able to mobilise funds at lower costs.

VSK Pillai

Changanacherry, Kerala

Air pollution

A recent study by University of Chicago’s Energy Policy Institute has once again affirmed what was already known about the detrimental effects of growing air pollution on humans health and the environment. Its warning that air pollution can reduce the life expectancy of Indians by nine years is hardly surprising as a number of Indian cities have been unsuccessfully battling the problem of worsening air quality.

Between 1990 and 2019, the life expectancy in India rose from 59.6 years to 70.8 years, but it was not accompanied by a proportionate rise in the quality of life. It is time state authorities shed their callous approach towards air pollution and usher in effective policy measures by taking cue from China which had curbed the emission of particulate matter by 29 per cent since 2013.

M Jeyaram

Sholavandan. TN

Reform thrust

This is with reference to ‘India at 75: The echo for new reforms’ (September 3). The BJP romped home in the 2014 and 2019 general elections on the promise of development and economic growth. The youth voted for Modi in the hope that more jobs will be created. Farm distress and unemployment should be two areas where the Modi government should pay extra attention.

Improvement in public transport, infrastructure, hospital/healthcare and educational facilities will go a long way in boosting economic growth and jobs will be automatically created, thus improving the quality of life of the people.

Wide publicity should be given to existing social security schemes and it must be ensured that majority of people belonging to lower strata of society are covered.

Veena Shenoy

Thane

Scrappage policy

Apropos ‘A scrappage policy just for the record’ (September 3), a well-formulated policy no doubt should have advantages that must include modernising the country’s vehicle fleet, making the trucking sector more efficient, reduced fuel consumption and ultimately significant reduction in emission.

As per the Crisil estimates, out of existing 5.1 lakh vehicles are more than 15 years old and are owned by single-fleet operators or single-truck owners/drivers. Implementation of the proposed scrappage policy without giving enough elbowroom to plan for either replacement or scrapping the vehicles will hurt these groups. Instead, gradual phasing out of old vehicles must be thought of.

Besides, the scrappage policy should envisage providing liberal incentives in the initial period of five years at least, especially for those who replace vehicles of 15 years and above.

RV Baskaran

Chennai

Controlling Covid

This refers to ‘Is Covid here to stay?’ (September 3) Realising the ground reality that coronavirus is continuously evolving, more effective vaccines to overpower the mutants must be produced, which would require financial support from the government as well. Above all, people must cooperate, which is key to ensuring that the virus does not get out of control.

NR Nagarajan

Sivakasi

Published on September 03, 2021

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