Letters to the Editor dated March 8, 2022

George Verghese 4772 | Updated on: Mar 08, 2022

Managing the economy

This has reference to ‘Rupee at historic low, equities crash’ (March 8). Hike in oil price, slowdown in international movement of goods, political uncertainties and flexing of muscles by super powers are likely to hit the markets more. The share market is already affected badly and new issues are likely to be kept in abeyance while margin calls and losses are sure to happen, leading to irregular bank lines. There is no immediate relief in sight. War economy is good but only for suppliers of arms and ammunitions and those in reconstruction activities.

Bystanders like India are not likely to benefit much but the adverse effects will hurt the economy. The government should try to reduce import bills by postponing non-essential imports. Ethanol blending has to be scaled up to reduce the oil bill and anti-dumping duty is to be levied on more products. Further, imports should be made on deferred-payment basis and external commercial borrowings by exchange earners must be encouraged till the dollar stabilises.

M Raghuraman


Women borrowers

It refers to ‘More credit to women, with better payback record’ (March 8). What a positive and welcome news to come on International Women’s Day. It is heartening to learn that women are taking more loans and maintaining a better credit profile, which augurs well not only for lenders but women borrowers as well. And we should not miss the larger picture here, which tells us that women are increasingly being treated as equals in our families and shouldering financial responsibilities as well. Hope this trend continues and the huge gulf between men and women is reduced significantly in the days to come.

Bal Govind


Easy loans

Women borrowers by and large behave responsibly when it comes to repaying loans. India is, however, still far behind China in creating women borrowers. It is the duty of bankers to make available easy and quick credit to women applicants so that they do not have to knock on the doors of dubious private chit/finance companies and moneylenders.

Katuru Durga prasad Rao


Affordable medical education

The Ukraine war has proved a blessing in disguise for medical students, as the government has decided that the fee charged for 50 per cent of the private medical seats will be same as that in government colleges. This will be beneficial to students from poor and middle-class families. The decision, which will be effective from next year, was long overdue.

Yash Pal Ralhan


Exit polls

It was interesting to learn that whereas most exit polls have predicted that the BJP will retain Uttar Pradesh, the Arvind Kejriwal-led AAP may eventually turn the tables on the Congress and also leave the BSP-SAD alliance far behind in the electoral race in Punjab.

Curiously enough, with Manipur most likely to go the BJP’s way and Uttrakhand witnessing a close fight between the Congress and BJP, the AICC’s Goa desk in-charge has already stated that it is open to a post-poll alliance with parties other than the BJP to form the next government in Goa, should the political situation so warrant.

So it may be the repeat of same old story hovering around the coming together of the so-called ‘secular forces’ to keep the BJP out. That apart, we may also get to see the SP, BSP and even the Congress squarely blaming the EVMs for their defeat in UP.

Vinayak G

New Delhi

Promote NPS

The editorial ‘Future Imperfect’ (March 8) makes a forceful pitch for NPS in place of the old pension system. The Rajasthan government proposing to revert to the old pension system seems to be populism. The move is an undesirable precedent. Retiree government employees must realise that they cannot burden future generations of taxpayers in such an unsustainable manner. Growing pension burden will lead to further reduction and putting off of government recruitment as expressed in ‘less government’. This will hurt future generations’ job prospects while impeding rollout of welfare programmes for the poor.

As argued by many, the government can make the NPS more attractive by making NPS annuities tax-free while pension income will remain taxable.

V Vijaykumar


Published on March 08, 2022
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