Padma for Mirza, Nehwal
It is good to know that badminton star Saina Nehwal and tennis ace Sania Mirza have both been chosen foe the Padma awards this year. While this will encourage both of them, no doubt, many more young girls will be encouraged to take up sports with these two as examples of women excelling in sports. They have both made very smart career moves. While Mirza has shifted to the doubles format, Nehwal has opted for one-on-one coaching at Bengaluru. This will give inspiration to one and all, especially students to make moves based on their strengths, aptitude and attitude in their fields of interests and easily achieve excellence. Kudos to Nehwal and Mirza for setting the right example for the millions of young girls in the nation.
Nivriti Sreelekha, Secunderabad
Fix policy to interest investors
Apropos of the edit “Bye bye, retro tax” (FE, January 26), modern economic compulsions spawn trade blocs much more than political/defence compacts. The transfer of huge monies hitherto for three decades, from oil-consuming nations to the producing ones, has dramatically reversed. This has boosted overnight the spend of developing nations on big ticket development programmes. That draws industrially well-placed nations, under relative stagnation, to look for avenues of growth n these economies. India, with a 7%-plus rate, is an attractive destination. But so are other South Asian nations, to comparable degree. Against a projected Indo -French trade of 12 billion euros, the real trade figure has been stagnating at 7.8 billion euros. The scenario is same with most other developed nations. A big movement on trade will benefit us, particularly in transfer of technology and setting up industries here that create jobs. For this, we need to shape our policies to be investment-friendly and predictable—be it on taxation or commercial safeguards or enabling provisions to set up business quickly. We have to mould ourselves as a nation that is serious about big business. Just slogans are passe.
R Narayanan, Ghaziabad
What is financial capital worth?
Apropos of the edit “Poor insights”, when wealth is created following economic activity, the value added must be apportioned equally between the state which gives the resources from the commons, the provider of intellectual capital (viz. engineers, scientists, etc), the workers and the providers of capital. Only then equitable distribution would have occurred. This tendency to hold capital (paper money in terms, by the way, is the most useless in the entire chain) as the most important link is just not the right way to look at things. What the Oxfam report points out is that, for no productive contribution, the super rich are appropriating a big chunk of the economic value created. With just capital, I am sure, out of the picture, the process of production would not suffer much if there ios collaboration among the other three stakeholders (this assumes that producers world wide will be willing to benefit from exchange of products/services, as author Ayn Rand pointed out in her book Atlas Shrugged”). Thus, the owners of capital are practically the most useless link in the value chain of all production around the globe. These are people who mooch off the labour (intellectual and physical) of the people and the resources that belong to the commons (no one owns what the earth holds, if you look at history).
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