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Western ratings not India’s report card
The editorial “Going Down Hill” (April 27) has expressed the view that the foreign investors do weigh rating agencies’ reports before taking important investment decisions. We need not give undue weightage to these western economic rating agencies. Wrong economic policies followed by the western world have already brought them to the brink of collapse. We need not, therefore, implement their prescriptions and derail our slowly but steadily developing economy. Foreign companies have huge volume of surplus capital but no profitable investment opportunity in the West. A developing economy of the size of India certainly provides them this scope. They are therefore desperate to invest in India. They should be welcomed but not with economic reforms of their choice. Why target subsidies alone to narrow the widening gap of fiscal deficit? Why not check corruption with an iron hand? Why not activate the heaps of gold worth crores of rupees uselessly dumped with innumerable religious places for infrastructure development? We need to limit gold import, individuals with sizable savings prefer to use it for the purchase of gold which is a dead investment from the national point of view. We have to device methods to divert these savings from gold to productive use. Keeping the bank deposit rates of interest higher than the current rate and exempting all interest income from the income tax net might possibly do the trick and even end up reducing the lending rate for our corporate sector leading to higher economic growth rate.
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D N TANDON, Panchkula
Solar power model With Haryana reeling under power shortage as usual, on account of many of its thermal power plants going out of order, time has come for the Haryana govt to look at Gujarat’s model of harnessing solar power. Gujarat has emerged as the largest solar power producer in India. By taking initiative to launch the Gujarat Solar Park with a vision to build it as the largest solar park in the world, it has already attracted close to Rs 8,000 crore of investment in solar power generation. The solar policy of Gujarat has also attracted Clinton Climate Initiative, a programme of Clinton foundation, to set up a solar park with an estimated investment of Rs 50,000 crore. Once set up, this 3,000 MW plant will make Gujarat the solar power hub of India. Solar power should be harnessed by the central and other state governments too. SUMEET SETH, Karnal Justice restored The news report “The curious case of Tara Chand: when justice failed its own” (April 27) rightly proves that sometimes honest persons suffer unbearable humiliation, torture and mental agony when they earn the wrath of their superiors on account of their truthful approach to various institutional issues. Though the court has removed the dust but the scars of the horrifying breath-choking moments which he suffered alongwith his family members cannot be wiped out and forgotten so easily. His harrowing experience and justice delivered gives a sense of relief and helps in raising the sagging morale of honest persons who can still hope that even in false cases too, justice if denied once can be rightfully restored. SHAM LAL, Chandigarh Encouraging advice The PM’s advice to civil servants not to be indecisive and act without fear is quite encouraging. When the leaders start taking and implementing strong decisions, the babus automatically will follow the same. We hope the PM and Home Minister shall lead from the front. SUDESH KUMAR, Tarn Taran Date clash There is a clash of date (May 27, 2012) for CET examination for admission to different medical (MBBS, BDS, BAMS, BHMS)colleges to be held by Panjab University, Chandigarh and entrance test for Guru Ravi Dass University, Hoshiarpur. It will be difficult for the students who want to appear for both, so date for any one of them should be changed. ROMESH KUMAR, Chandigarh Inviting trouble Garbage collectors and their families have been protesting at Municipal Corporation, Chandigarh, against the new MC rule under which a private agency/contractor will be given a monopoly over garbage collection. This would mean that hundreds of garbage collectors and thousands of members of their families who depend on them will be at the mercy of the private contractor. A pilot project in this regard has brought out the discrepancies in this project. A group of garbage collectors admit that taking care of school-going children and old parents will force them to take drastic steps. There are many other anomalies in the new project like job security, contractor’s one-upmanship and hard labour of many years going waste, though the new system can ensure convenience and flexibility. Garbage collectors are the ones who have helped keep Chandigarh remain as City Beautiful. MC’s scheme seems to be aimed at removing the poor rather than removing poverty. ARJUN SHEORAN, Chandigarh
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