Indian Economy in a Dilemma
This refers to your pre-Budget special cover story (Setting the Pace, February 12). The cover image depicting the elephantine predicament of the Indian economy was brilliant. It is clear that there are numerous threads to be urgently picked up to weave a tapestry of economic growth, affording welfare to the poor and the marginalised. The public awaits the coming Budget like a cat on a hot tin roof and by the time the next issue of BT is out, the cat will be out of the bag! It cannot be gainsaid that the budgetary formulations and prescriptions are being crafted for post-demonetisation period with the data of the pre-demonetisation stage and hence estimates will definitely fall short of demands of the pre-Budget expectations. The action agenda calls for completing unfinished reforms, reinvigorating banking services with high capital and lower risks and fulfilment of targeted disinvestment of PSEs to sustain the economy. The Reserve Bank of India, which was out of its depth during demonetisation, must substantially rise to the occasion to support the measures of the Centre in translating the budgetary plans into achievements. The Indian economy is being caught up in the coils of dreams and dilemmas, while the citizens are gasping for multiple fiscal reliefs, more disposable money and enhanced real income. However, the finance minister has to keep a weather eye on Indian economic affairs to continue to buck up growth bias.
B. Rajasekaran, Bangalore
A Different Ball Game for Chandrasekaran
This refers to your article on N. Chandrasekaran (Tough Journey, Feb 12). The best part about the selection of Chandrasekaran as the new Tata Sons chairman is that he has been part of the Tata Group ever since he has started his career. But running an IT company and being chairman of a conglomerate, which has interests in varied fields like telecom, chemicals, IT, power, finance, steel, housing , automobiles to tea, coffee, etc., will be a different ball game altogether. I am sure the Tata Group must have learnt its lessons from the Cyrus Mistry fiasco. Now there should be crystal clarity between Chadrasekaran and the group on how it should be run. Also, Chandrasekaran should be given a free hand to organise things the way he wants it to. Good governance and integrity have always been the hallmark of the Tata Group. Now Chandrasekaran has to put all he has in him to re-establish the lost credibility of the group in recent times. Last but not the least, Ratan Tata should also ensure that his involvement in the group's day-to-day affairs is minimal.
Bal Govind, Noida
Rising Above Religion
N. Chandrasekaran (Tough Journey) as head of Tata Sons is welcome. In business, to attain the best results, one must rise above religion, caste, race and community. Socio-economic development would pick up if reservation of all kinds is banned by the Centre and state governments.
Mahesh Kapasi, New Delhi
Can PM Modi Shape the Future of India?
This refers to your feature on demonetisation (Money Woes, Feb 12). It is interesting, as the author has highlighted how unorganised industry hubs have faced disruption in business after the demonetisation tsunami. Production across all sectors has fallen drastically, making the labour classs lives miserable. Almost all the units have been paralysed by the cash crunch. A cent per cent cashless economy is just a dream. Will Prime Minister Narendra Modi be able to play a critical role in shaping the future of India? Only time will tell!
B.S. Acharya, Berhampur