RBI holds its nerve
This refers to ‘Highlights of RBI’s monetary policy’ (June 8). Reserve Bank’s Second bi-monthly ‘pause centric’ Monetary Policy for 2023-24, was expected.
Notably, its all major components have been kept in a ‘constant’ mode except marginally lowering the inflation forecast to 5.1 per cent (for FY 24) and Current Account Deficit (CAD) expectedly having moderated further in Q4:2022-23.
Keeping the repo rate unchanged is a big relief to various stakeholders relying heavily on bank credit.
However, it may be too early to marginally lower the inflation forecast for FY 24 as food inflation may rise if the weather plays truant.
So let us better wait till its next bi-monthy meeting in August, to have a better view on this count.
Vinayak G
New Delhi
There is a flaw
This refers to the article ‘Pros and cons of the new food storage plan’ (June 8). Since most agricultural co-operative societies serve the interests of rich farmers, handing over of additional storage facilities to them will continue to favour them. This may result in monopolising of storage facilities by the rich leaving the small farmers in the cold.
Similarly, poor farmers’ grain will be hit by the uncovered or poorly maintained market yards.
If the government persists with its new plan, it should at least ensure that the new storage facilities provide exclusive space for small farmers’ produce though the right thing would be to exclude the agricultural co-ops from the management of new storage facilities.
YG Chouksey
Pune
BSNL package
It is baffling to learn that the government has agreed to provide a third revival package for ₹89,000 crore to BSNL, totalling to a whopping ₹3,22,000 crore. It seems the government has not learnt any lessons from the Air India episode.
Some may argue that BSNL’s 2G services reaches areas where even Jio and Airtel have not been able to penetrate, but we should not forget that BSNL, which took nearly a decade to roll out 4G services, would not be able to utilise this opportunity.
BSNL has lost market share to Airtel and Jio only because it was not able to keep up the pace with them. This move is another example of throwing good money after bad.
Bal Govind
Noida
Responsible celebrities
This is with reference to the news report ‘Akshay Kumar most visible celebrity in TV Ads in March Quarter’ (June 6). In a country where cricketers and cine stars are treated as demigods, it’s hardly a surprise that they get plenty of product endorsement deals running into crores of rupees.
Celebrities should market only those products which are good for the country/youth and refuse to endorse junk food, tobacco-related products.
One of the main reasons for the popularity of Western junk food and high-sugar beverages is that our film stars and sportspersons endorse them. Celebrities must think beyond financial gains and endorse only those products which are good for a healthy lifestyle. It is pertinent to mention here that, Pullela Gopichand, coach of Saina refused to endorse soft drinks and colas because they are detrimental to the health of the children.
Secondly, celebrities should encourage the youth to stay away from tobacco/smoking and drinking liquor,
Veena Shenoy
Thane