Sub-classification of SCs
By holding that States are constitutionally empowered to make sub-classifications within Scheduled Castes and Scheduled Tribes to help uplift castes that are more backward among them, the Supreme Court has heralded a potential widening and deepening of the constitutional guarantee of equality. No doubt, the landmark verdict marks a significant milestone in the jurisprudence on affirmative action since it clearly underlines that merit must be understood in terms of the social goods of equality and inclusivity. It should be noted here that historical and empirical evidence points to the fact that Scheduled Castes are not a homogenous category; the caste whose traditional occupation is scavenging will be more backward than the one whose traditional occupation is weaving, even as both suffer social stigma. It is hoped the verdict would lead to the fine-tuning of affirmative action policies and help State governments address the intense inequality within Scheduled Castes.
M Jeyaram
Sholavandan, TN
Curbing F&O punts
With reference to the editorial ‘Dangerous addiction’ (August 2), the consultation paper of SEBI, proposing measures to curb the present excessive speculation activity of inexperienced retail investors in the derivate market, is a meticulous step to de-risk small investors who are vulnerable to heavy losses due to the underlying volatility in F&O segment of stocks. In their speculative exuberance, investors are likely to get exposed to counter-parties in totally unknown arenas. Though speculative activity in stock markets is not illegal, such precautionary and timely measures are necessary to protect gullible investors.
Sitaram Popuri
Bengaluru
Rein in speculation
SEBI deserves credit for proposing measures to restrict risky derivatives trading among retail investors. Online gaming too is an activity that has similar risks of addiction and financial loss. Indeed, their advertisements even warn viewers. Yet these platforms are gaining momentum on the back of promotions, including celebrity endorsements. As in the case of alcohol and tobacco products, government could consider restricting advertising of online gaming. Some use the ‘game of skill’ versus ‘game of chance’ argument. But why bet with money?
V Vijaykumar
Pune
Lessons from Asian giants
Apropos the article ‘Growth lessons for India from Asian giants’ (August 2), the extraordinary growth of Japan, South Korea and Taiwan, powered by early reforms and vibrant manufacturing sector, has transformed those countries into economic powerhouses. While early emphasis on technological innovation and R&D have also played a major role, skill development and encouragement of micro, small and medium enterprises were instrumental in transforming the manufacturing sector in those countries into intense production hubs. India has been a late starter both in reforms and on focusing on innovation, R&D and on skill development, though the country has not missed the IT and communication technology revolution and has become a major player in the field. However, service sector alone cannot propel the country into the needed high growth trajectory for becoming a developed country. Making the nation a manufacturing hub is essential to achieve the goal.
Kosaraju Chandramouli
Hyderabad
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