Delhi has been setting a bad example on several fronts, including pollution. It is ironical that when pollution, caused by vehicle movement, is increasing, auto manufacturer Maruti is witnessing exponential growth.
If Singapore can manage pollution through caps on vehicle registration and other strong steps, why can’t Delhi? Measures such as the Odd-Even rule, weeding out old vehicles, car-pooling, a better as well as efficient public transport mechanism, staggering office hours, etc, if strictly implemented would yield positive results.
Totally misdirected
With reference to ‘Plainly populist’ by NS Vageesh (From the Viewsroom, November 3), the measures advocated by a responsible public representative of the country is highly deplorable. Bank loan schemes are designed to support economically backward students and enable repayment in convenient instalments. The ultimate goal of the education loan is to inculcate financial and social discipline among students besides making available tax benefits. Writing off loans would signal the wrong direction to youth.
Sitaram Popuri
Bengaluru
Short history of DeMon
This refers to the editorial, ‘A mixed bag’ (November 08). The demonetisation of high value currency dates back to the Mughal era when after annexing a territory, the invaders would effect sikkabandi to cripple the economy. The primary motivation was to make then would be to exchange the previous ruler's coins invariably for a lower value to ensure that the local people dependent on them and toe their line. Later, during the end of the 16th century, demonetisation became a policy initiative to bring in a unified and consolidated monetary system for the entire empire.
In 1978, the Morarji Desai government instated the High Denomination Bank Notes (Demonetisation) Act to carry out investigation and prosecution of defaulters and counterfeiters. In 1998, Finance Minister Yashwant Sinha cited the need for notes of higher face value for normal cash transactions. He was certain that the root cause of illegal transactions lay not in notes of high denomination, but “elsewhere”. It was “realised” that no one would be willing to jeopardize ill-gotten earnings by keeping them in the form of currency for long. Therefore, the very idea that ‘black money’ was held as notes tucked away in suitcases or hidden under mattresses sounded naive.
The 2016 “surgical strike” seems to have been an exercise in reaping political dividends while the real offenders continue to park their illegitimate funds in offshore havens.
Shreyans Jain
Delhi
Well articulated
This refers to the interview with Satya Nadella by Thomas K Thomas (November 8) which beautifully articulates how he has been able to transform the company. Nadella undelines the need for organisations to nurture a culture of experimenting with new things and failing without fear of naming and blaming. What matters is not technology diffusion but adoption in critical areasNadella sees huge potential to improve the productivity of small businesses and efficiency of public enterprises.
Philip Sabu
Thrissur, Kerala
Money trail
In a country that once had the distinction of being one of the most corrupt nations globally, reeling under corruption scandals from time to time involving ministers and government officials, the Paradise Papers comprising the names of 99 Indian corporates including two former ministers shouldn’t take anybody by surprise (‘Paradise Papers expose: 714 Indian entities linked to offshore accounts’, November 8).
Considering the promise and the abortive attempt of the present government to bring black money stashed by Indians in Swiss banks, it’s unlikely that Indian tax authorities would get around to tracking down those behind the Indian companies named in the Panama Papers in going after the black money trail. More’s the pity.
R Prabhu Raj
Bengaluru