Unrest in USThe unthinkable happened and Trump’s supporters-cum-‘domestic terrorists’ stormed the Capitol Hill, venerated as a citadel of democracy. The defilement of the seat of American political po
Letters to the editor dated December 23, 2020
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Era of financial repression
With reference to the article ‘We are in an era of financial repression’ (December 23), to revive our languishing economy we need to activate financial mediation. That would hinge on PSBs that account for around 75 per cent of loans disbursed in the banking system and they own 80 per cent of NPAs.
The RBI has been for long addressing concerns over inflation, liquidity flooding and exchange value correction being but an adjunct. Rate cuts cannot help an economy that is hit by lack of demand.
We see massive injections of liquidity by major nations failing to jump-start economies. Worse, these monetary interventions have largely triggered unsteady flow of funds between economies.
Letters to the editor dated December 16, 2020
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Farmers’ agitation
Apropos ‘Are the farmers’ protests justified?’ (December 16), the ongoing farmer’s agitation which is claimed to be conducted for the benefit of 100 million famers of India is actually for the good of just two lakh rich farmers mostly based in Punjab. This is the group which has a vested interest in maintaining the status quo that is, farmers sell their produce through APMCs at a price determined by them.
The new farm laws allow the farmers to sell their produce at a lucrative price to anyone of their choice including APMCs. Various studies have established that APMC markets are highly exploitative, middlemen dominated and do not help farmers get remunerative prices. The margins of middlemen vary from 2 per cent to 60 per cent.