Ajay Piramal - the Trendsetter
This refers to your cover story on Piramal Enterprises (The Contrarian, August 14). It was an interesting study of the history of the Piramal Group under the leadership of Ajay Piramal. In the present complex business environment - making it difficult for entrepreneurs to flourish - Ajay Piramal has become a trendsetter. His reading of the ground situation is perfect and he doesn't have a herd mentality. Piramal's contrarian strategies have yielded rich dividends and he has hit pay dirt in his various business ventures. His focus on financial services once again shows his business acumen. The creation of a resurgent fund is timely and the stressed asset market has potential. The formation of an information management board is a unique initiative to manage their business activities judiciously. Indeed, Piramal has demonstrated to others how to manage risks and manoeuvre unforeseeable forces comfortably. His management decisions and commercial responses show intuitive intelligence in action. His professional teams consist of domain experts who have contributed immensely in transforming this group and taking it to greater heights. Piramal Group is a stark example of professionalism. Swati Piramal is on the Board of Overseers of Harvard University. She has been elected in recognition of her business acumen. And the family members have also proved their mettle in the diverse operations of the group. No doubt, Piramal is contrarian but he has demonstrated that he knows when to enter and exit businesses. He has an uncanny sense of timing. No wonder then that many have compared him to Warren Buffett.
B. Rajasekaran, Bangalore
Curbing Black Money
This refers to your article on black money (Lessons Learnt, August 14). The Supreme Court-appointed SIT wants a ban on cash transactions above Rs 3 lakh and a cap on cash holdings at Rs 15 lakh to curb black money. Both these suggestions will do more harm than good to the economy. The idea also goes against a citizen's right to deal in cash, and is impractical to monitor. Banking has its own set of problems. The best way to curb black money is to abolish income tax.Mahesh Kapasi, New Delhi
Tax Implications
This refers to your article on GST (Missing Pieces, August 14). There is much hype that GST will relieve business houses from various taxes and lead to simplification of taxes, too. A chart of the tax implications must be issued in the public interest giving full details such as taxes paid now, and what they will be after the Act is passed. It is in the nation's interest to fix GST rate at not more than 10 per cent. It should be guaranteed that rates shall not be increased for at least 10 years. Also, small business houses should be exempted from it. The basic exemption should be linked to inflationary index.
M. Kumar, New Delhi
The Digital Avatar
This refers to your feature on blockchain technology (Chain of Transparency, August 14). The author has well analysed the virtual currency transaction. Bitcoin, which is used to buy things electronically, may be a new concept for India, but it has been quite popular in Western countries for an easy, transparent, and hassle-free monetary transaction.
B.S. Acharya, Berhampur
Concrete Efforts a Must to Revive the Ailing AI
This refers to your article on aviation (Not There Yet, July 17). The range of new initiatives aimed at making the Indian civil aviation sector competitive is fine, but concrete efforts were also expected from the government to revive the ailing national carrier, which has become worse after the merger of Indian Airlines with itself. Whether the decision was good or bad is a matter of long debate, but the fact is that Air India requires the top attention of the government.
S. Umashankar, Nagpur
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