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Taming inflation
The editorial, “Inflation defies gravity”
(June 18), highlighted the issue of rising prices and the steps taken by the RBI and other central banks across the globe to check inflation. Controlling inflation through monetary measures by raising interest rates does not always hold good. It requires a blend of quantitative as well as qualitative monetary measures. The government expects interest rate hike to act as a magic wand to solve all economic problems. As the author has rightly described that interest rate hike is a double-edged sword. Though it dampens the buying spirits and puts a check on demands for goods and services, it hits the supply scenario by having a negative impact on industry and production levels. Low production levels and low growth rates put the entire economy on a downward trend. Lower demand and lower supply scene takes the economy to a lower position of equilibrium without any noticeable impact on rising prices. The RBI, therefore, should also mull over measures such as change in marginal requirements of loans, rationing of credit as per changing needs and preferences of the economy. Instead of having uniform interest rates, the RBI should encourage cheaper loans for selected industrial sectors. Agricultural reforms and cheaper loans for encouraging application of scientific agricultural processes and means should be on the agenda of policy makers. Every economic measure has both positive and negative impact. One has to weigh its merits and demerits intelligently, keeping in view the gravity of the situation. The blind and mindless use of these monetary measures would never bring the desired results. The quality of money, not just the flow, governs the economic health of a nation. Sanjeev Trikha, Fatehabad
Doctor’s predicament
This refers to the middle, “A prayer to the doctor” (June 20) by Ravia Gupta. I partially agree with the lamentations of the author. Medicine is treated as a noble profession and we expect doctors to adhere to the Hippocratic Oath and ethics. We want instant relief from our sufferings and switch doctors at will. At the same time, we wish to be treated by the best in the field. Nobody likes to visit a plain MBBS these days. A doctor is judged by the list of degrees displayed on his signboard. Still we blame doctors saying that they prescribe unnecessary tests just for money. In such a tense atmosphere if a patient loses his life, the doctor is held responsible. If we look into the hard work and perseverance that goes into the making of a doctor, we will definitely treat them with compassion. We should remember that diagnostic tests prescribed by doctors, though expensive, are handy in early detection of a disease. We are also well aware of the plight of the government-run hospitals and the kind of treatment meted out to patients there. In such a scenario, the private nursing homes are doing a great service to the society. No doubt, there are always some black sheep in the profession. But we must remember that the society cannot continue to be critical of doctors, and at the same time expect them to adhere to the Hippocratic Oath. What we get from the system is the result of what we give to it. Bhushan Chander Jindal, Jalandhar
Fight common enemies
The article “Why India needs to keep talking to Pakistan”
(June 23) by Raj Chengappa is thought-provoking as well as a timely recipe for restoration of normalcy in our troubled subcontinent. His recent interactions, particularly with the youth and the academia in Pakistan, lends added credence to the popularly held belief in both countries that if we want to grow stronger economically, it is time for us to break free from the vicious circle of hatred and violence.It is in our interest that we engage in sustained dialogue and make efforts to fight our real and common enemies — terror, hunger, poverty, illiteracy, disease and backwardness. This will need the softening of rigid mindset, especially among hardliners in both countries. It is high time we engaged in a friendly dialogue and took confidence-building measures to promote greater people-to-people contact. Govind Singh Khimta, Shimla
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