Tackling economic issues
This refers to ‘A case for demystifying economic data’ (September 19). In an interdependent economy one tends to adopt a one-size-fits-all approach while suggesting solutions to tackle various macroeconomic issues like inflation, fiscal deficit and unemployment. For instance, the US is facing a ‘demand pull’ inflation with rising income and wages against ‘cost push’ inflation being experienced in India due to supply chain disruption and other factors contributing to price rise and loss of employment.
Hence the US changing its approach from ultra-easy monetary policy to propel growth to tightening its approach now by embarking upon a series of interest rates hikes to contain inflation seems to suit its economy.
On the other hand, considering the nature of inflation which India faces now, it cannot totally sacrifice growth while tackling inflation since job creation and productivity needs to be at the top of its agenda while dealing with rate hikes.
India as peace advocate
Prime Minister Narendra Modi telling Russian President Vladimir Putin, on the sidelines of the SCO summit, that “today’s era is not of war” is appropriate and timely. While calling for peace and negotiations, India didn’t — and rightly so — join the West in its raft of sanctions against Russia.
And since European imports of Russian oil and gas were exempted from the sanctions, India’s stand was well-vindicated.
When Modi tells Putin that this isn’t the era of war, he’s not changing India’s position but re-emphasising the criticality of peace by pointing to the terrible costs of conflict — underlining food and fuel shocks the Ukraine conflict has inflicted on developing countries.
N Sadhasiva Reddy
Flip side of EV push
Apropos ‘Green transport: Keep all options on the table’ (September 19), as part of decarbonising the passenger transport, India aims at ensuring that 30 per cent of all new vehicle are electric by 2030. While this is a good move to reduce carbon emission, it should not be nullified by consuming electric power that is generated by burning of coal.
The EV charging points at all petrol bunks in cities and along National Highways should tap solar energy to generate electricity so as to reduce the dependence on coal-based power.
Besides, allowing hybrid vehicles that run on gasoline and electricity would prompt more new buyers to switch to EVs.
This refers to the editorial ‘Troubling trend’ (September 19).That the discernible proportion of younger individual investors in the country have been gravitating towards unregulated online trading platforms and invest in highly risky assets in recent times is a matter of serious concern.
While the RBI has done the right thing by listing out the names of such unauthorised platforms on its website and cautioned people against investing in the risky assets, lack of awareness among people about the adverse ramifications arising out of straddling in unregulated online trading platforms makes them persist with investments in risky assets.
A sustained awareness campaign about the repercussions on social media platforms, electronic and print media brooks no delay.