This refers to the editorial, ‘Arresting the drift’ (May 11). The Prime Minister seems to have left no stone unturned in constructing a strong economy pillared on dynamic domestic initiatives such as Skill India, Digital India, Smart Cities, and financial inclusion. Inland water transport will surely benefit the nation in many ways.
The Centre can augment freight traffic through inland waterways provided it does the following: the Centre should instruct States to interlink the major rivers within their boundaries; PPP should be floated to interlink rivers effectively and if need be, extend the tenure of operation under the BOT mode; States and local communities should be apprised of the importance of river interlinking and inland waterway transport — interlinking may avert water scarcity both for irrigation and drinking water; overall cost-benefit analysis may divulge the merit of the project in terms of finance, technology and ecology.
Approach the ICJ
With diplomatic efforts to make Pakistan see reason not succeeding and world nations failing to put pressure on the rogue state, India naturally had no option but to approach the ICJ. India’s contention in the world court is that despite an international treaty — the Vienna convention on Consular Relations — there has been an “egregious violation” of it by Pakistan. The ICJ order is binding, but will Pakistan pay heed? For there is always a strong possibility that India’s move to approach the ICJ will lead to Pakistan mimicking this strategy and attempting to internationalise the Kashmir issue. A death penalty for alleged espionage is unheard of. Pakistan’s de facto foreign minister Sartaj Aziz had suggested there was not enough evidence to try Jadhav.
KS Jayatheertha
Bengaluru
Timely ordinance
This refers to ‘Being a banker doesn’t suit the RBI’ by Radhika Merwin (May 11). Considering the NPA menace which has grown out of proportion, the new ordinance empowering the RBI to tackle bad loans is timely. One could understand the genuineness of the issue if the spurt in stressed assets was on account of global and local economic slowdown. Unfortunately most of the stressed loans are due to wilful default.
When banks lacked credit appraisal, the central bank should have stepped in and questioned credit decisions. In the case of project loans with a long gestation period, regular clearances from government agencies would have helped in the timely execution of projects. Political interference in the decision-making process was another reason for the spurt in NPAs. Finding capital to absorb the losses and kick-start the lending process is another huge challenge.
Srinivasan Velamur
Chennai
We should not forget that until NPAs get resolved, fresh lending will not revive. Though it is disheartening that the Banking Boards Bureau has not been able to implement changes in the management of PSBs banks, fresh lending has to be done by the efficient banking professionals. Putting the economy back on track is critical .
Bal Govind
Noida, Uttar Pradesh
Startup lessons for Kejriwal
‘Is India’s political start-up flaming out?’ by Virendra Pandit (May 11) was interesting. A startup focusses on the growth of the business till it stabilises. Kejriwal contested the national elections and lost his deposit and reputation. The promoters of a startup befriend the levers of power to get things done. Kejriwal confronted the Lt Governor and the Centre. A startup needs fresh ideas and unstinted support. Keriwal’s arrogance forced tcolleagues to leave. A startup focuses attention on quality and expectations. Kejriwal failed to provide the administration his voters expected.
YG Chouksey
Pune
Erratum
With reference to the article ‘Nightmare on IT St: thousands to be sacked’ ( May 10), TCS has clarified that the reported exit by one of its employees has no link to the lay-offs in the IT industry due to automation and changing business models.
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