The victory of Narendra Modi in Gujarat is a positive sign for India (?Self made?, Dec 25). A few months back, I went to Gujarat to make a presentation to the board of directors of a large public sector company for a big project proposal. I was pleasantly surprised to find that all directors came to attend it after thorough research. After the highly productive meeting, I asked a senior executive about the sustained interest shown by directors in discussions which was unusual by the standards of other states. I was told that in Gujarat under Modi, public sector managements are allowed to operate without political interference. Directors took so much interest because they knew that their decisions won?t be overruled by any ruling party person. This explains one reason for Gujarat?s progress under Modi. An incorruptible politician to boot, his style of governance is in sharp contrast to many in our nation who practise dynasty politics.
?NS Venkataraman, Chennai
Calling the shorts
It is indeed heartening to note that Sebi has decided to reintroduce shortselling (?Regulated return?, Dec 22). Shortselling, along with stock lending and borrowing, can play a pivotal role in price discovery on stock exchanges. The ban on naked short sales and intra-day square-offs by institutions indicates Sebi?s eagerness to ensure the safety of markets and protection of small investors. We now have a market surveillance system which will not permit the abuse of shortselling.
?Vijay Mullaji