Gujarat chief minister Narendra Modi, while delivering the annual Shri Ram Memorial Oration at the Shri Ram College of Commerce in New Delhi, has aptly stressed the need for developmental politics. It may be recalled here that Gujarat is among the very few developed states in the country that can boast of a strong GDP. Gujarat under Modi has a completely new look now and he has transformed the state in the last decade beyond ones comprehension and has impacted considerably the economic history of India for the better. His model of development has undeniably worked wonders in Gujarat and is worth experimenting in other states of the country. Economic priority must always assume precedence over political expediency, to take the growth process forward.
Power sector reforms
Scindia meets bankers, all ears to concern on power sector lending (The Financial Express, February 9) shows that merely pumping more money into the power sector is not going to improve the power scenario in the country. What is urgently required is rational and viable power tariff which factors into the greater used of imported fuels, both gas and coal. The reluctance on the part of the concerned authorities to take bold decisions on power sector reform as well as pricing and pursuing populist policies is among the major causes of poor performance in the power sector. The government, it seems, is skirting behind technicalities in granting revision of tariff in most of the mega power projects which were signed when imported cost was cheaper. The power sector is beset with availability of both coal and gas. What is required in proper diagnosis instead of higher doze of medicine. The government must learn from the fertiliser sector, where urea pricing has dissuaded investment in the sector and we are relying more on imports.
This refers to the Eavesdropper He Khan do it! (The Financial Express, February 5). IPL cricket should be welcomed by all. The new format really increases the speed of the game and thereby alleviates any boredom that might take over cricket fans otherwise. Besides, the players have chances of learning new technical things from the new-found version of the game. The hue and cry over the cheerleaders is unnecessary. Truly speaking, cheering the audience is their profession. Importantly, most of the cheerleaders are foreigners, and bad press about them, or hurting them in words and deeds is only going to tarnish our image.
P Senthil Saravana Durai
Credit card fraud
This refers to the report Global credit card fraud, tagged at $200 million, driven by Indians: US (The Financial Express, February 6). Banks are also responsible for this fraud, to some extent. Earlier, banks used to issue only ATM cards, then came ATM-cum-debit cards. Now, the option of only-ATM cards has disappeared, and banks are offering the account holders international debit cards, whether one needs it or not. In fact, it has now become quite risky to use these cards at shops. The Reserve Bank of India should take stern action against the people involved in the credit card fraud.
Deendayal M Lulla