Opinion Another tragedy
Tuesday nights naval catastrophe is the second tragedy,in less than a month.
* Tuesday nights naval catastrophe is the second tragedy,in less than a month,for India in general and our military forces in particular. We have already lost five soldiers in J&K and now another 18 navy personnel have died due to the recent blast that sank INS Sindhurakshak in Mumbai. These incidents raise questions about whether standard operating procedures are being followed. We need a detailed review of these occurrences so that similar mishaps do not take place.
Sumeet Mahendra
Seoni Malwa
20 days and 20 years
* This refers to SC rejects Lalu petition,wants trial finished in 20 days (IE,August 14). Its good that the bench led by Chief Justice P. Sathasivam has refused to shift the trial on Lalu Prasads fodder scam case from a Ranchi court. The CJI has driven home the point that Lalus fear of the trial court judges bias is ill-founded. The RJD chiefs case has been dragging on for nearly 20 years now,thanks to the manner in which cases involving political leaders are dealt with in our country. It is very interesting that the bench has given the trial court 20 days to wrap up the proceedings and deliver its verdict. With the new CJIs keenness for the speedy dispensation of justice,it is to be hoped that the truth is revealed soon.
P.G. Menon
Investor sentiment
* Appropos Fixated on the rupee (IE,August 13),I believe that the government is not doing enough to ensure growth and investment. It was quite ironic that two industrial giants Posco and ArcelorMittal decided to scrap huge projects around the same time that the government announced a liberalised FDI policy. India has lost its sheen as a potential investment destination. Even Indians themselves were starting to shift investments abroad,until the RBI clamped down on this on Wednesday. The RBIs mandate is perceived to be to ensure price stability and rein in inflation. It is the governments job to ensure that investment sentiment is positive by making sure it is easy to do business.
Amod Ankit
Begusarai
* The RBI should not focus on exchange rate management. It should only focus on financial regulation and keeping inflation within reasonable bounds. The inflation that we have experienced off late cannot be explained by demand-side factors; it is more likely to be due to external factors and supply-side constraints. These are beyond the control of any central bank or monetary policy. Martin Ravallion stated that the more poor people in an economy,the more unexploited opportunities for investment and growth there will be (Why promotion is better than protection,IE,August 13). India is crying out for its animal instincts to be unshackled. Its also high time we redefine the role of the RBI.
Shishir Sindekar Nasik
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