The Reserve Bank of India has come out with a suitable and friendly policy initiative. It has reduced the Statutory Liquidity Ratio from 24 per cent to 23 per cent, primarily to have more liquidity in the banking system.

The RBI has stayed clear of not reducing the repo rates as it will have an inflationary impact.

K.Ravindranath Shetty

Mangalore

Tripping on power

There are many hassles affecting the power sector in India. In this context, the Government has three major tasks that need to be executed urgently. To start with, rural electrification is a big challenge since there are still many villages that do not have proper electricity.

Erratic and poor power supply is another issue. Even cities and towns are no exception to this. Second, acute shortage of skilled personnel has been reported in the power sector. The Government should take steps to recruit required manpower so that all impending power projects are completed on time. Third, having available resources, particularly coal, to generate power is important.

P. S. Saravana Durai

e-mail

A leader by consensus

This refers to “The many faces of Modi” ( Business Line , July 31). Mr Narendra Modi is kind of person you either love or hate but cannot ignore.

In his recent visit to Japan, he did not lose the opportunity to extend an invitation to Maruti Suzuki to shift its automobile plant from Haryana to Gujarat, which has become the investors’ hub because of the pro-investment policy laid out to corporates.

Whether Mr Modi is accepted as a consensus leader by the NDA or not, it cannot be denied that many Indian corporates would like to see him at the helm.

Bal Govind

Noida

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