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Impact of US meltdown on India

There is serious concern about the impact of the American meltdown on Indian economy. In many cases, the market rates of shares have fallen below the issue prices and the shareholders now prefer to buy such shares from the cheaper open market.

To build up public confidence, the Government of India has taken measures such as cutting the CRR to infuse an additional liquidity of Rs 40,000 crore and raising the interest rates on foreign currency deposits to help investors put their money in volatile market. But these efforts will provide only short relief for the investors as the stocks will resume their downward slide sooner or later.

Steps should be taken to check the corporate sector’s greed for the business of giving easy loans without verifying the credibility of the firms seeking it. We can’t improve the situation as long as the norms of lending are liberal.

Dr S. K. AGGARWAL, Amritsar

Letters to the Editor

Letters to the Editor, neatly hand-written or typed in double space, should not exceed the 150-word limit. These can be sent by post to the Letters Editor, The Tribune, Sector 29, Chandigarh-160030. Letters can also be sent by e-mail to: [email protected]

Regressive law

The Anti-Defection Act is a regressive law and against the spirit of democracy. The elected representatives have lost their conscience and they have become slaves of the political parties. They have to vote as per the dictates of their parties.

Every election has shown more fragmentation and division of seats amongst small regional parties. A big country like ours cannot afford to have a fractured Parliament. A solution has to be found out.

The Anti-Defection Act should be abrogated. The Aya Rams and Gaya Rams will be weeded out of the House and elections will result in polarisation of parties. We should not fear elections. Even Nepal has held two elections to elect its President. This will help elected MPs to be the true representatives of the people and they will not become slaves of the political parties as at present.

K.S. HOTHI, Chandigarh

In a shambles

Primacy education in Punjab is in a shambles. The medical education and health care are in doldrums. The government medical colleges face imminent derecognition by the MCI. The state government has never thought of investing in quality education. The infrastructure is in a bad shape.

Little has been done to attract industry. In fact, there is flight of industry to neighbouring states. There are virtually no job opportunities for the youth. Power is expensive and in short supply. Successive governments have been following myopic policies. Their only objective has been to come to power by offering populist schemes like free power to the farmers.

The state’s debt liability today stands at about Rs 50,000 crore! The standard of living of the common man is plummeting. Things are bad in neighbouring states, but they are worse in Punjab.


Misuse of right

I read the editorial, “Goons at work: Maharashtra CM must deal with the mobs”, Oct 22). Our citizens enjoy the freedom of speech and expression without hurting the national interest under Art 19 of the Constitution. But what Raj Thackeray and his hoodlums have been doing in Maharashtra is totally a misuse of this fundamental right.

National interest comes ahead of self-interest. India is for all citizens. Every Indian from north, south, east or west has equal rights and the MNS has no right to create obstacles in the path of North Indians.

Unfortunately, India has a long history of regionalism and vote bank politics and certain groups choose the wrong way by not learning from the past.


It’s against our cultural ethos

The Maharashtra government’s approval of the concept of “living-in relationship” should be opposed by all right-thinking citizens tooth and nail. This concept is based on free society where everyone can do according to his or her choice and does not suit our culture and civilisation. We try to copy a particular way of life without thinking about its repercussions on our society.

The Hindu Marriage Act was enacted mainly to curb the social menace of polygamy. It even conferred on the second wife the right to seek divorce. The provisions of law as incorporated in this Act would receive a serious jolt.

I am afraid, giving legal sanctity to living-in relationship would further increase the cases of adultery and have a serious impact on the younger generation.

Justice R.L. ANAND (retd),
(Former Judge, Punjab and Haryana High Court), Amritsar



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