Fiscal consolidation

Apropos your Editorial ‘The fisc matters’ (June 7), with the excitement of the election results winding down, the government needs to continue with its fiscal consolidation policies.

The temptation to announce mouth watering freebies to blunt the criticism of the opposition, or to meet the unreasonable demands of alliance partners needs to be resisted.

Unemployment is not solved not by creating millions of government jobs. Price rise too is not curbed by printing more currency notes. The need of the hour is to improve infrastructure and make the conditions conducive to FDI, which increases production, besides creating jobs in the private sector.

V Jayaraman

Chennai

Sound fundamentals

With reference to the news report ‘India’s macro stability is intact despite Modi’s reduced majority’ (June 7), the sentiment expressed by Goldman Sachs reflects a confidence in India’s economic framework and governance. The expectation is that, despite a reduced majority for the BJP, the existing economic policies and fiscal discipline will continue to support the country’s macroeconomic stability.

This perspective underscores the belief that India’s economic fundamentals are robust enough to withstand political changes. It also suggests that the government’s commitment to fiscal consolidation and structural reforms is likely to remain a priority.

In essence, the focus on maintaining fiscal discipline, along with proactive economic policies, is anticipated to be a key factor in preserving the macroeconomic health of the nation.

Amarjeet Kumar

Hazaribagh (Jharkhand)

Budget imperatives

The new Government is likely to present the Budget for 2024-25 in the second week of July 2024. About 10 crore Income Tax and GST payers should also have a say in budgetary allocations and economic policies. The data bank of GST and IT returns is very relevant and strong feedback for the Budget and Finance Ministry.

A dedicated schedule with options in ITRs and GST returns for the tax payers to express their priority to allocate budgetary funds to infrastructure, education, healthcare, national defence, research, innovation & development, regional development, industrial sector-wise promotional schemes etc. will provide the Government with visionary approach commensurate with public aspirations for budget and economic policies.

Vinod Johri

New Delhi

Monsoon worries

Apropos ‘Water balance in agriculture crucial’ (June 7). After a double whammy of drought and scorching summer, lakes and ground water dried up, monsoon is yet to set in the Western Ghats region of peninsular India, barring pre-monsoon showers.

Farmers in the area depend on rains spread over the 3-4 months, which is a typical monsoon pattern.

Any downpour over a few weeks’ time (like in 2018 and 19) may not help the Kharif crops but the IMD may strengthen its statistics of total rainfall. In either case farmers are the worried lot.

Rajiv Magal

Halekere Village (Karnataka)