Think of ordinary people too
This refers to the report 'Petrol, diesel prices up again; rise by ₹2.40 a litre in four days' (March 25). For sure, the timings of such a hike raises several eyebrows. How come that the government did not consider it worthy enough to 'revise' their prices even as the global brent crude price breached all previous barriers and at one time touched $139 per barrel?
Sadly, the Centre seems to be more concerned about the financial health of state owned OMCs.
There does not appear to be any real justification behind the government reverting to same old tactics in the guise of the sprinting global crude oil prices. It can make use of uninterrupted supply of the crude oil that too at a pre-determined price, under the aegis of "India-basket" mechanism even as it has enough fuel stocks till May.
India has also been utilising Russia's offer of supplying crude oil at a discount. So it is a win-win for the government now. But what about the hapless citizens?
Kumar Gupt
Panchkula (Haryana)
Micro-credit thrust
With reference to ‘Time for banks to go on big on micro-credit’ (March 25). As for micro-credit, the banks and NBFCs’ sanctions and credit delivery must reach the beneficiaries. The identification of the right beneficiaries is crucial and the financing entities need to further strengthen their checks and balances to prevent misuse of funds.
Banks being majority financiers to the microcredit lending entities, the loan needs to be low priced. It is essential to ensure that the credit creating and delivering personnel are not turning down the request for loans of the beneficiaries on flimsy grounds.
Despite the small ticket size of the loan financial irregularities and frauds are not uncommon so safeguards are needed. People living in rural areas still rely on private money lenders and persistently remain in a debt trap .
So the government and the financial sector regulators must tighten oversight.
VSK Pillai
Changanacherry
Budget priorities
This refers to the report "PLI Schemes must be studied more closely" (March 25). The point Raghuram Rajan is making has multiple implications. We are still far behind in literacy levels and progress in literacy level will spur growth.
By advising diversion of budgetary resources meant for industrial/infrastructure development to education or healthcare, Rajan is showing himself in poor light.
A person of his background and experience should have shared possible avenues to find resources to fund infrastructure projects without affecting basic priorities like education and healthcare.
MG Warrier
Thiruvananthapuram
The urban mess
Urban planning is one of the most prized portfolio in most States for obvious reasons. When everybody wants a finger in the pie, the planning of the cities is bound to take a hit. Besides the many problems mentioned in the article 'India cannot afford the 'old normal' any more', most of our cities are aesthetically an eyesore.
This in spite of the many beautiful structures built by the British and other Indian rulers. Unfortunately beautifying a city has come to mean shiny garish and tasteless modifications.
Many State governments appear to be enthused by changing names. It is better if they built newer cities as the present ones are doomed to drown in their own shortcomings!
Anthony Henriques
Mumbai