Bonanza for legislators
This refers to recent decision of the Union cabinet to approve the proposed hike in pay and perks of MPs. This self-recommended hike has come at a time when the government has been exhorting all the others to curtail expenditure in the wake of paucity of funds. The proposed three-fold hike in pay and substantial tax free perks and allowances will result in an outgo of nearly Rs 24 crores. Does the government’s sermonizing for curtailment of expenditure not apply to our MPs? The question that arises is whether our MPs will pay taxes on their salary income as it is bound to cross the minimum taxable limit after the proposed hike? Will they be filing income tax returns now as the same is mandatory for all other citizens of the country?
—S K Gupta
Delhi

US style reforms
It has been reported that Chief Vigilance Commissioner, N Vittal is strongly in favour of our capital market adopting the system that is prevalent United States.

We are aware that the present non-transparent ‘scam-ridden’ capital market system does not have a ‘strong punishment system’ — an inherent lacuna which needs to be corrected. Building a healthy capital market is the need of the hour and hence the JPC presently looking into “Ketan Parekh scam” should definitely look into this aspect dispassionately and evolve a system suitable to our country.
No one can deny the need for building a prompt punishing system alongwith plugging of the loopholes in the capital market to obviate recurrence of scams in future. It is high time that government takes appropriate steps to regain the confidence of the general public investing their savings in the capital market.

Our financial system badly needs a basic principle of transparency and professionalism of high standard if our capital market is to be pro-active and attract retail investors in large numbers.
—Satish Murdeshwar
on e-mail

Vedic capsule
Caste has been one of the most burning issues of Indian society for long. It has been said that upper castes have also kept the lower castes away from the brahminical texts and deprived them of the knowledge contained in them.

Keeping this in mind, one must praise the present Prime Minister and the HRD minister, both of whom happen to be brahmins by birth, for having provided the courses related to what is called “vedic capsules” in universities. The fact that now these texts will be available for study and analysis to every section of society irrespective of caste, creed, gender or religion is a good effort to take care of an aspect of casteism in its present form. It is a negative attitude of the patrons of a particular ideology that they have criticised such a revolutionary step. Perhaps they can not digest that such a unique thing has been done by a saffron brahminical government.
—Manish Garg
on e-mail

Ta-Ta Ratan?
I am appalled at the quality of reporting that takes place in Indian newspapers. I thought at least The Financial Express was not so bad, but today that myth also is broken. How can you even write an editorial like “Ta-Ta Ratan?” To me at least, it just goes to show that you understand nothing about the Indian mentality with respect to a Tata company.
—Niroopama N Shah
on e-mail