Making remittances purposeful
This is reference to Anuj Agarwal and Prachi Priya’s column “Tap the remittance resource” (April 23). It is pertinent for the government to look at channelising the inward remittance to induce the productive sectors of the economy. Barring inward remittance of high net-worth NRIs, major chunk of the inward remittances are deployed for unproductive purposes like acquiring land, construction of expensive houses, and for repayment of debts and consumption. The unskilled, semi-skilled wage-earners working abroad, particularly in the Gulf countries, on return to India, find it difficult to meet both ends due to lack of savings. The government must look at establishing attractive avenues for investment to induce NRIs to invest their hard-earned money in those avenues to get maximum returns rather than keeping their money in fixed-deposit with banks. At a time when many of the countries are implementing stringent laws for creating job opportunities for their own nationals, the Centre and state governments need to look for avenues to create job opportunities to accommodate the wage-earning NRIs on their return from abroad.
Farmers in trouble
The capital heard a farmer’s voice louder than thunder, post mortem. It is likely to freeze the government’s efforts to get its land acquisition Bill passed, has forced the likes of the AAP to have a serious introspection on the brand of movement politicking and has placed a rich repast of issues before a famished Congress that has no idea how to handle them. In all this, the hapless farmers have none to spare deeper thoughts on their plight.
R Narayanan, Ghaziabad