Letters to the editor
RBI deputy governor Subir Gokarn has said that the only way to save the widening current account deficit—and hence the rupee—is to get Indians de-addicted from gold. Referring to it, your editorial “Curing Indians of gold” (FE, November 28) has welcomed RBI’s move for the launch of gold-backed instruments. It is one side of the coin. But we cannot ignore the consumer demand also. Today, ornamental gold sale is thriving and its advertisements are choking the media. Though ornamental gold might have helped people in some way by its ever-increasing value, for raising loans etc, the craze for gold ornaments is in a way also a curse for the Indian society. Besides many risks, it is also the source of dowry evil!
This refers to your editorial “King’s choice” (FE, November 24). I remember having seen Vijay Mallya defending capitalism in a NDTV show a few years ago. He said since he pays taxes, hence he is entitled to live the way he wants to. Some Leftists, such as CPI’s Atul Anjan, were challenging him to start a party called ‘Capitalist Party of India’ to see what support he would have for his views, as Mr Mallya derided the socialist principles in the show. That he is entitled to his extravagance is just fine. Yes, you may enjoy. But, taxes are one of the liabilities of a businessman. Paying workers their due is equally important. Environmental preservation is one of the new additions that capitalists the world over
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