The article “The magic of Mumbai” ( Business Line ,July 10), aptly reflects how a small-town boy migrating to this great megapolis finds out that dreams are not only nurtured here, but also suppressed and shattered.

The migrant, though, lives the city’s resilient spirit. I visit the city temporarily, but have always wanted to peek into the lives of Bombayites. The piece allows me to do that.

Vishnu Goel

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Rating agencies

This refers to “State of alert on window-dressing” ( Business Line , July 12). Retail investors will never get into the nitty-gritty of whether a company has been following Indian accounting practices or IFRS. In the context of HDFC and JSW Steel, both the companies and the rating agencies are right, because they are seeing the financials in a different way. So it is essential that these rating agencies elaborate their perspective and approach, rather than create panic in the investor’s mind.

Bal Govind

Noida

Unfair to PM

This refers to “India Inc must step up to the crease” ( Business Line , July 12). Dr Manmohan Singh had received far too much criticism, despite being the architect of India’s reforms.

One point that has, however, come to light is the role and place of P.V. Narasimha Rao. His choice of Dr Singh was Chanakya-like.  He knew that the country would require someone like Dr Singh to deal with the IMF and the World Bank. Rao could provide the leadership required to demolish the licence raj and usher in liberalisation.

On the other hand, Dr Singh is shackled by lack of operational freedom.

K.U. Mada

Mumbai

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