The real economy
This refers to ‘A tale of two growth narratives’ (December 14). Stock indices are at a life-time high and yet we struggle to comprehend the fall of conventional jobs. Inflation compels digging into savings and creates a mirage of consumption-led growth. Indian household savings are at decadal lows. Last year, the net financial assets of Indian households stood at 5.1 per cent of GDP, the lowest in 23 years. The previous low was in FY15, at 7.1 per cent.
Technology was expected open up newer sectors of human engagement and create jobs in an increasingly unfamiliar economy. In the last two decades, it had begun to get disruptive and place disproportionate demand on our endeavours. We advance into a future where technology and obsolescence will be inseparable twins.
R Narayanan
Navi Mumbai
The price situation
This refers to the thought provoking Pocket Cartoon on inflation (December 14). It reveals the real side of datamatics. What else could explain the wide variations in CPI vis-a-vis the actual prices as at marketplace?This also belies the sanctity of the government’s official data. Hapless consumers of various products of daily use have to pay as per the prevailing market prices and not as per the official data, which do not appear to be in consonance with the ground realities. Such a situation also calls for revisiting the entire gamut of such data compilation with special reference to the methodology adopted.
SK Gupta
New Delhi
Climate matters
Apropos ‘COP out’ (December 14), the outcome of the climate meet in Dubai is a mixed bag. The COP28 decision includes a clear indication that the world needs to transition away from fossil fuels starting this decade. Also the recognition that global greenhouse gas emissions have to peak before 2025 is in line with the science of keeping warming well below 2°C and preferably to 1.5°C.
However, the COP28 outcome only describes partial measures in vague and non-committal terms. This leaves lots of room for interpretation which will have to be dealt with in the years to come. It is far from clear whether the outcome will help keep global warming within the safety limits set out by the Paris Agreement.
N Sadhasiva Reddy
Bengaluru
Security in Parliament
This refers to ‘Lok Sabha breached’ (December 14). Parliament is not merely a building but a symbol of our democracy. It’s unfortunate that we have not learnt our lessons. What if the intruders had something more dangerous than non-toxic smoke canisters. Swift action prevented a crisis, but it underscores the importance of constant reviews and readiness. If our Parliament remains vulnerable then we are literally at the mercy of God in other spheres of our life. Shutting out people from Parliament will not work, strengthening security will.
Bal Govind
Noida
Elephant deaths
This has reference to ‘Unnatural causes claim lives of more than 490 wild elephants in five years’ (December 14). More unfortunate is the lack of will to curb such deaths although the Wildlife Protection Act is strong on paper. Most of the deaths are due to electrocution of elephants foraying into farmlands. As the conviction rate is minimal, it encourages wrongdoers to take law into their hands.
Rajiv Magal
Halekere Village, Karnataka
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