Export buoyancy

India's merchandise exports are booming with many predicting it to reach $400 million mark. With domestic demand and investment still subdued along with the limited scope for enhanced government spending, robust exports will provide a much needed fillip to the economy.

The major export drivers have been petroleum products, gems and jewellery, engineering and electronic goods. While much of the upswing is due to normalisation of global economic activities, the questions about the sustainability still linger as global trade is increasingly being affected by production and supply disruptions. The need of the hour is to enhance export competitiveness while promoting its deeper integration with global supply chains.

M Jeyaram

Sholavandan (TN)

Attracting retail investors

This refers to the editorial ‘Promoting G-Secs’ (November 17). It is critical to enhance the popularity of the Retail Direct Scheme of the Reserve Bank to attract retail investors. While retail investors are more risk-averse in dealing with capital market-related savings and investment instruments, these schemes must be popularised by upscaling financial literacy, and awareness campaigns.

Due to low returns and the growing defaults by some private banks, cooperative banks, and non-banking financial companies, savers are wary of placing their money with them.

Government bonds, securities and other saving schemes need to be investor-friendly. As household savings are vital to meet the investment needs of the government, tax relief must be given to such investments and their returns. Barring bank deposits and small savings schemes of the government, a major chunk of the savers is unaware of other financial assets. The government’s financial inclusion programme must be more comprehensive and purposeful.

VSK Pillai

Changanacherry (Kerala)

Delhi’s pollution woes

Apropos ‘Getting to the root of Delhi's air pollution’ (November 17), it is a matter of great concern that the levels of PM10 and PM2.5 have reached 876 and 680 micrograms per cubic metres against the safe limits of 100 and 60 micrograms and the Municipal Corporation of Delhi has resorted to ‘washing the air’ by spraying mist of water through anti-smog guns at several places.

The main reason for this is not stubble burning by farmers of Haryana and Punjab but traffic pollution, heavy construction activities followed by industries, power plants and other domestic sources.

The per capita registration of high emission vehicles in Delhi is reportedly the highest in India. The city administration has to re-introduce the odd-even scheme of plying vehicles.

Also, they need to consider declaring “all vehicles” holiday during week-ends (except for EVs) and ask the public to travel by metro. Necessary arrangements must be in place at construction sites to douse the dust through continuous spraying of water.

RV Baskaran

Chennai

Real estate worries

With reference to ‘Lessons for India from China’s Evergrande woes’ (November 17), it is not merely the real estate projects of listed companies but other ventures across the country which are languishing. The total investments in all of them may far exceed that of global giants like Evergrande.

Though the government launched a fund (SWAMIH) for affordable housing projects there are a few larger projects which are outside the eligibility of the fund stalled mainly for funding constraints.

These need some support and the government should work with CREDAI to find a solution to their problems. Courts have already started intervening and staying home loan recovery of stalled housing projects and the problem is likely to hit housing finance sector gradually. Hence a fund exclusively for the real estate sector, excluding affordable housing, is needed.

M Raghuraman

Mumbai

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