RBI at sea

| Updated on January 12, 2018 Published on June 07, 2017

The sharp dip in the recent GDP figures though expected, is an unwelcome dampener. This has reflected in today's RBI policy review that is seen to be hesitantly neutral. Its continued prevarication on value of old currency deposited post November 2016, is an indication of the nebulous state of policy formulation. The current stock market buoyancy is therefore all the more inexplicable. There was no indication that the RBI has a clear view on the route ahead for definitive policy rate management.

R Narayanan


Heartening news

It's heartening to note that India is likely to get more rain this monsoon. But then, it is very difficult to predict the actual rainfall any season. This prediction should help the governments (Centre and States) to frame their agricultural policies well and also be prepared with flood-control measures.

S Ramakrishnasayee


Madhya Pradesh violence

It is unfortunate that the farmers’ protest in Madhya Pradesh, demanding higher crop prices, has taken a turn for the worse. Farmers across the State have been on an agitation since June 1, demanding cost-based returns for their produce and a waiver of loans. It is clear that the UP farm loan waiver has had an impact on farmers of neighbouring States who feel that injustice has been meted out to them. With the Centre not keen in footing the loan waiver bills and the agitation picking up steam, the affected States of Madhya Pradesh and Maharashtra will have their task cut out.

NJ Ravi Chander


Farmers’ protests

It is sad that Madhya Pradesh government has found no better way of dealing with the farmer protest in Mandsaur than taking police action resulting in the deaths of six farmers. Chief Minister Shivraj Chouhan cannot denigrate the agitating farmers as “anti-social elements”. Loan waiver and fair price for agricultural produce are just demands, but the government is in no mood to accede to them. Waiver of corporate loans takes precedence over waiver of farm loans on the pretext that it incentivises growth. They certainly deserve price 50 per cent above the input cost, at least as the partial reward for the sweat of their brow. In the absence of concrete measures, few people take Prime Minister’s promise of doubling the income of farmers at face value.

G David Milton

Maruthancode, Tamil Nadu

Manmohan’s message

It is interesting to read the statement of Manmohan Singh that economy crippled by note ban ( June 7). However, it will not be out of place to mention here the recent World Bank report which states, “In the long-term, demonetisation has the potential to accelerate the formalization of the economy, leading to higher tax collections, and greater digital financial inclusion”. Rightly the statement of the former PM has been published under Politics page.

S Kalyanasundaram


Qatar on the radar

In a well coordinated, diplomatic offensive, Saudi Arabia, Egypt, Bahrain and the UAE have severed their links with Qatar ‘for destabilising the region by backing groups such as Al Qaeda, Muslim Brotherhood and Daesh’. Qatar is not the only country which stands accused of promoting terrorism. It is a supreme irony that Saudi Arabia has joined others in condemning it for backing terrorist groups! The US has bracketed Qatar and Saudi Arabia as countries sponsoring terrorism! Has the US now exonerated Saudi Arabia and found only Qatar guilty as charged?

J Akshay


Mallya’s googly

After being spotted at the India-Pakistan game in Birmingham a few days back, fugitive and former owner of the Royal Challengers Bangalore IPL team Vijay Mallya, again turned up at Virat Kohli’s charity hall at the Honourable Artillery Company grounds in London. This obviously made Team India uncomfortable and left the spot early after having minimal interaction with him.

HP Murali


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Published on June 07, 2017
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