Comments
The high-handedness of the State police, which unleashed force on peaceful protestors supporting jallikattu in Alanganallur, is reprehensible. This is a spontaneous popular protest against the ban on a traditional sport. The ban must be revoked.
M Jeyaram
Sholavadan, Tamil Nadu
Inexcusable interference
‘An assault on RBI’s autonomy’ by Yoginder K Alagh (January 17) hits the nail on its head regarding the Centre’s interference with the RBI. Demonetisation was a job for the RBI, not the Centre. Therefore, commercial banks should not have been overused for handling the highly demanding exercise without adequate or requisite replacement notes in place.
In terms of the mandate imprinted in the RBI Act 1934, the central bank has been constituted to “regulate the issue of bank notes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the Currency and Credit system of the country — to its advantage”. For more than eight decades, it has gained expertise in doing so, without any much problem, commanding respect. Under these circumstances, a top-down approach towards the RBI was uncalled for.
RS Raghavan
Bengaluru
It’s just the tip
According to reports, those with a lot of unaccounted money in the form of old ₹500 and ₹1,000 notes have resorted to so many clandestine ways to convert their holdings. IT raids have yielded huge seizures of new ₹2,000 notes which could only have been acquired with the connivance of bank officials. Unless all the transactions are thoroughly checked by independent auditors, all the frauds committed may not come to light at all. We see only the tip of the iceberg. It is the right time for government to arrange for a special audit of the transactions in November and December.
L Madhav Muthiah
Madurai
Trump alert
This refers to your edit, ‘Paradigm shift’ (January 17). Trump’s move to shift the production base to the US may not succeed for the simple reason that it cannot match China as far as labour cost is concerned. Hence the threat to China is limited.
Indian software companies must strive hard to provide quality service at competitive rates; as long as value is provided, the threat is limited. But we must tone up efficiency. The difference between China and India lies in the dollar reserve. But in a way the depreciating rupee acts as an incentive to exporters. The inflow of forex may add to inflation.
S Kalyanasundaram
Trump’s recent statements are actually consistently expedient as far as his proclaimed mission is concerned, and also augur well for world security. Ramping down Nato contributions would offset his proposed move to slash the US corporate tax to help bring back jobs to the US. His recent statements that he may contemplate moves to ease sanctions against Russia imposed on that country following its purportedly illegitimate annexation of Crimea from Ukraine, could usher in an era of strategic and military cooperation between the two traditional cold-war rivals which has the potential to put down ISIS. So, his friendly overtures to Russia augurs well for peace.
The woes of blue collar workers was what Trump expediently seized upon and which catapulted him to power. His so-called protectionist agenda is in fact a patriotic initiative for his own country similar to the Make in India initiative of Modi.
Aravind Sridhar
Bengaluru
The UP games
This is with reference to Rasheeda Bhagat’s ‘Will the BJP retain its 2014 tempo in UP?’ (January 17). This is the right time for the BJP to rise above petty quarrels and politics and fight to win the UP elections, considered the most significant State elections. Youngsters want jobs and women want security. People do not expect miracles or the moon from the Government, they want basic necessities of life to lead a decent life.
Veena Shenoy
Thane, Maharashtra
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