Reckless capitalism

Refer to ‘Not a private affair’ (Nous Indica); the disinvestment of national assets and privatisation reveal the political philosophy of the present dispensation. Privatisation at the cost of health, education, banking or agriculture sectors is not going to strengthen our economy. In the name of efficiency, the economy is being precariously pushed towards a point of being a political economy where the interests of the poorest of the poor will be compromised. Non-availability of the public sector banking system could be a nightmare for millions of small, middle-class depositors, potentially affecting the savings and investment cycle. Socialism or democratisation should not be recklessly replaced, or institutionalised, with capitalism or totalitarianism.

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Abhimanyu Malik, Jind

Privatisation no answer

Reference to ‘Not a private affair’ (Nous Indica); the government seems to be obsessed with privatisation, presuming that if it was good in 1991, it is good in 2021 too. It is not a panacea for all ills afflicting the Indian economy. Fragmentation of public infrastructure leads to serious problems. Privatisation does not necessarily increase competition. When healthcare, education and public transport are performing an important public service efficiently and effectively, why can’t other public entities do so, if they are supported earnestly and given a free hand to function? The private sector can be more efficient in some cases, but not in all. We have the best and worst of everything. We have the best of manpower in terms of modern technology, information technology, agricultural sciences, nuclear sciences and space technology, but we have corrupt politicians and bureaucrats, who are accountable to none and treat government funds as their own.

Tarsem S Bumrah, Batala

Communalising cricket

Refer to ‘Mixing cricket and religion’; differences between a coach and a cricket association are not new, but Indian cricket has been an example of secularism in practice. All that has mattered is how you bat, bowl, field and function in the team, on purely cricketing parameters. Making such allegations against Wasim Jaffer is deeply disturbing, for it is an effort to introduce the politics of communalism into cricket — India’s true religion. The allegations could well be dismissed, but these come in the wake of a rising trend of sidelining minorities and forcing them to prove their nationalism.

SANJAY CHOPRA, Mohali

Upswing in market

Reference to ‘A false sense of exuberance’; there are contrasting views on the spurt in the BSE index. As per some economists, it depicts the brighter side of the economy while for other experts, it is an ephemeral bubble. The Sensex is considered to be a barometer of the stock market. But it is formed of just 30 scrips out of around 8,900 listed on the exchange. Two or three listed companies denoting a particular industrial sector can’t be a mirror to hundreds of non-listed companies belonging to the same sector. Along with the fluctuation of the index, figures of total market capitalisation should also be floated for the public on a daily basis. Both figures will help retail investors in building firm views regarding the stock market.

Rajesh Goyal, by mail

Getting along

Apropos of ‘The secret of getting along with people’, loneliness amongst the elderly is a malady of modern times. Earlier, the joint families revolved around them. They were put on a high pedestal and enjoyed respect and importance till the very end. These days, unfortunately, they are being neglected. Appreciating others and accepting the differences in the nature of one another can go a long way in making life more comfortable and beautiful.

Aswant Kaur, Tarn Taran

Spiralling fuel prices

Apropos of ‘Fuel prices on fire’, high levels of taxes and surcharges in our country have forced the sale of petrol and diesel at many times the basic price. This has affected even other commodities and manufactured goods, making life even more difficult for the common man. Successive governments have failed to implement a corruption-free taxation system. They consider taxing fuel as the easiest and instantaneous method of increasing their revenues to meet fiscal targets. It is the constitutional responsibility of the government to create social and economic conditions under which citizens can lead a good life. The way forward lies in implementing technology-based tax collection and fraud detection mechanisms rather than continuing to overload the overburdened middle class.

Pankaj, Kalka

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