In the wake of the Asian financial crisis, the meeting of the G20 is significant. In a melee of the economic shocks, the world is in dire need of a global government. In this context, the G20 that represents over 60% of the world's population could be the best global government in matters of bringing about a balanced and stable environment for all countries. In fact, the glass of the G20 is not just half full, it is just close to brimming. So, it should offer a sip of what it has to the world. It must be remembered that the G20 accord in 2004 for sustained growth was remarkable. The 2004 accord included monetary and financial stability, enhancement of domestic and international competition, empowerment of the people and reduction of poverty.
P Senthil Saravana Durai
The new RBI Governor, Raghuram Rajan, has started with big-bang reforms and this has given the markets confidence. The slew of measures aimed at reviving growth and rescuing rupee are being appreciated. He said that there are so many low-hanging fruits in the economy that if we only pluck them we can accelerate growth substantially. But, at the same time, Rajan should be given a free hand. The policy review due to be announced by RBI under his stewardship on September 20 will be watched with great interest by the industry circles. He has a tall order ahead, but a job well begun is half done.
Setback for Sonia
This refers to the report "Setback for Sonia Gandhi's Congress as Bharatiya Janata Party to emerge as largest in Lok Sabha polls: Survey" (FE, Sep 8). This should be a boost for Gujarat chief minister Narendra Modi after he was supposedly down with the 'letter bomb' dropped by jailed IPS officer, DG Vanzara. Vanzara had alleged in the letter that he and the other accused senior officers of the Gujarat Police only carried out orders with the full knowledge of the then Gujarat home minister, Amit Shah, and Modi himself. This survey may just prove to be very timelyit might help the BJP make up its mind and announce Modi as the prime ministerial candidate of the party for the upcoming general elections.