Inflation worries
The government seems to be taking a Laissez Faire approach to inflation. Inflation goes up and comes down without government’s influence. When it comes down everyone rushes to claim credit.
The government seems to be relying too much on private investment, which has its downside.
Unemployment is all time high and inflation is also high but the NITI Aayog claims that 13 crore have been pulled out of poverty. Confusion is ruling the roost.
AG Rajmohan
Anantapur
With reference to the news report ‘July retail inflation at 14 month high of 7.4 per cent’ (August 15). The smart post Covid recovery in the manufacturing sector tamed the Wholesale Price Inflation and has declined thanks to the increasing capex and fall in prices of mineral oils, basic metals, chemical products and textiles.
But retail price inflation skipped the market forecast of 4.87 per cent and now peaked at 7.4 per cent. Price of vegetables and fruits being the main culprit. The government must take steps to curb the retail inflation with balanced agro supply and the RBI must retain status quo in policy rates.
NR Nagarajan
Sivakasi
Green transport
This refers to the article ‘Green bonds should catalyse public transport’ (August 15). It is good to note that the investments in Green bonds has been increasing substantially in the recent past. Though the first ever green bond issued in January 2023 has mobilised $1 billion, yet it is not much impressive when compared to countries like US and China, India’s initiative in this direction is yet to pick up.
The funds must be invested or spent in the sectors in reducing the greenhouse gas emissions. Besides modernising the State Transport Corporation with vehicles complying with BS VI norms, the experts and bureaucrats must expand the plan of spending the funds for modernising the existing coal based power plants by adopting pollution controlled process, conversion of fly-ash in to making bricks and diverting it for road construction, replacing lakhs of sodium vapour street lamps with LED lights in all cities and towns or convert them into solar wherever feasible.
India is blessed with sunlight for most part of the year. We must harness it to the fullest extent possible. It is impossible to have an economy free of fossil fuel. But, it is possible to have its usage controlled and the emission regulated.
RV Baskaran
Chennai
Auditors vs IDs
With reference to the article ‘Auditor resignations: Prevention is better than cure’ (August 15), while an auditor is a watchdog, independent directors act as a guide, coach, and mentor to the company. The auditor has a deeper role and is carried on real time basis and he is required to ask for required information and not confine to available data only.
Their reports are relied upon by many agencies connected to the company.
On the other hand, the independent director has to rely more on the agenda placed to the board. Resignation of both functionaries are serious for the company and one needs to analyse the circumstances behind their exit.
The shorter the duration of engagement, more suspicious is the development. The best way to prevent such incidents is to improve the overall corporate governance of the company.
M. Raghuraman
Mumbai
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