Not Cairn’s keeper
This refers to the editorial column “Cairn’t fix it or won’t?” (June 30). It has been rightly concluded that the signal going out from Cairn tax case is that the government doesn’t want to fix the tax problems. Unfortunately, even otherwise, India doesn’t command an enviable reputation on the front of ease of doing business. With this kind of unpredictability and aggression in taxation matters, foreign investors would be further scared of making any long-term investment in the Indian economy. Being a catalyst for the transformation of the economic landscape of the desert district of Barmer in the state of Rajasthan, Cairn is perhaps one of the best success stories of foreign investment from the point of view of the Indian economy. Such cussedness of Indian authorities in this case is particularly worrisome. One can only hope that the prime minister Modi’s ‘Make in India’ vision would survive such onslaughts from within the government and would not get derailed.
Nand Kishore
New Delhi
Greek drama and the drachma
A new drachma replacing the euro in Greecewill be so below par the former that it will spark runaway inflation. Greece’s best bet is tourism, but if the foreseeable poor economic conditions create civil unrest, even that goes for a toss.
Prahlad Bhasin, Mumbai