Loan waivers

This is with reference to the report ‘Ahead of Telangana elections, loan waivers to hit banks, agri sector’ (October 18). The political parties promising/demanding loan waivers should understand that such waivers put heavy financial burden on banks, which are already reeling under huge NPAs. Most of the farm loans are waived either with an eye on elections or for meeting the demands of various political parties. No economy benefits when it is run on a charitable concept. In India, we need more banks which will lend to poor farmers, illiterate people and small entrepreneurs who mainly depend on moneylenders, who squeeze them with high rates of interest. Banks are custodians of public money and that should be used prudently. Hence, political influence should not affect banking decisions and banks should utilise the funds for building the nation’s economy. In most of the loan waiver cases, it is not the needy but the well-to-do farmers who benefit. Farm loan waivers should, therefore, be done prudently without burdening the banking industry.

Thane

The violence let loose by Hindu outfits on journalists, police and women devotees who were on their way to Lord Ayyapa temple in Sabarimala is reprehensible. Those who were disappointed over the Supreme Court verdict allowing women of all ages to visit the hill shrine had every right to protest peacefully and but any attempt to be law unto themselves should be nipped in the bud. Blatant disregard for the judicial verdict by the protesters, in the guise of protecting tradition, has no place in a democracy governed by the rule of law. Also, the present attempt by the opposition in the State to politicise the temple entry issue for electoral gains is disheartening.

Apropos the edit ‘A job at hand’ (October 18), the fixed time employment scheme is a good bridge between the Contract Labour (Regulation & Abolition) Act, which has led to many strikes and industrial unrest in various companies, and the Industrial Disputes Act, which is rigid about retrenchment. As such industry and the State governments should have welcomed and acted upon it.

The industry’s reasoning of rising costs is misconceived. By paying low wages to casual labour, employers are misusing the the system to get permanent workers’ job done by the contract labour. But the reluctance of the States is inexplicable, except that they may be also pro-industry for political reasons.

Pune

Apropos ‘Congress: New documents make Rafale deal murkier’ (October 18), the Congress party seems to be overly keen to keep the political pot boiling on the Rafale issue which it perceives as a massive scam which is getting ‘murkier and muddier’ by each passing day. What else could explain its latest claim that the fresh documents on Rafale have reinforced the fact that Prime Minister Narendra Modi facilitated a sweetheart deal with Dassault Aviation to “illegitimately” benefit “crony friend” Reliance Defence? Further, the party’s media in-charge Randeep Singh Surjewala also thought it wise to point out that the BJP, which is running helter-skelter and throwing all kinds of in-consumable alibis to defend the indefensible, will have to be accountable for the biggest defence scam that has hit the country. Incidentally, what about the infamous Bofors scam that had virtually rocked the entire nation during the Congress regime?

Should those living in glass houses not throw stones at others? Mind you, the Congress party’s ongoing attempts to corner the Modi-led NDA government on this highly emotive issue could largely be a part of its vote-centric move. But, in all fairness, the government should urgently come clean on such an extremely sensitive matter lest this issue turns out to be a game changer, firstly at the forthcoming State assembly elections and later during 2019 Lok Sabha elections also.

New Delhi

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