Apropos 'FM's Interview' (March 1), though the Finance Ministry is firm in reiterating that the Budget numbers need not be reworked in in view of the ongoing Russia-Ukraine war, there is every likelihood of oil and gas prices shooting up.

The Budget was prepared when the crude oil price was hovering around $75 a barrel and now, it has crossed over $106 a barrel. Until the Russia-Ukraine crisis ends, there won't be any drastic fall in the price of oil and gas. In this context government must revisit procurement of oil and gas and alternative plans must be in place to ensure that the supply chain is not disrupted.

Also, the Finance Minister must make a quick review on the impact of exclusion of Russia from the SWIFT network. Experts can also review and analyse replicating the India-Iran model of trade settlement through Indian rupees.

R V Baskaran

Chennai

Budget Vyakarana

This refers to BL-Exclusive interaction with the Finance Ministe(March 1). One has to concede that with every passing year India's Budget documents are becoming more transparent and efforts to conceal uncomfortable reality is slowly tapering.

This interaction was more about markets and industry and concerns arising from the Russian invasion of Ukraine. It's too early to analyse the Russian gamble and its implications for world economy.

Still, the Finance Minister will, in the normal course, have a relook and perhaps, change priorities for the short term, to accommodate costs on rehabilitation of Indians returning from abroad and overhaul the country's preparedness to meet any eventuality arising from the Russian adventure and the apparent inaction of nations which could have taken positions to reduce large scale loss of lives and resources.

MG Warrier

Thiruvananthapuram

New SEBI chief’s tasks ahead

With reference to news report ‘New SEBI chief Madhabi Puri Buch has her task cut out”, Madhabi Puri Buch is not only the first woman to head SEBI but first woman to head any financial regulator in India. She is another protege from KV Kamath’s stable and has an image of a taskmaster. Barring GN Bajpai, this position has been taken by an IAS officer only, so being a non bureaucrat could be one of the challenges for her. But she comes with extensive experience in both banking, finance and financial markets.

She joined SEBI in 2017 and played a pivotal role during Franklin Templeton Debt fund crisis to ensure that debt funds always have liquidity cover available to not lose trust and faith of retail investors.

She always took strong and unconventional decisions backed with thorough data. She is taking up this role at a time when the market is volatile, NSE scandal is fresh and LIC IPO is around the corner. One hope she comes out with flying colours.

Bal Govind

Noida

It’s time to switch to organic

Apropos “Fertilizer makers weigh option to import potash” (March 1) is one of the many concerns that is likely to disturb the Indian farm sector. Right from price hike to non-availability of agri inputs that are dependent on imports will hit the sector hard and one cannot guess when the situation will normalise.

Moreover the export of Indian farm produce may get hit due to geopolitical reasons. Under the circumstances, it is highly judicious if the farmers switch over to organic farm practices, which has so far been sidelined mainly due to the abundant availability of chemical fertilizers.

Authorities, universities and the environmental scientific community must take this as an opportunity and accelerate the changeover to organic farming.

Rajiv Magal

Halekere Village (Karnataka)

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