Letters: Heed S&P's warning

This refers to the report “India may be the first fallen BRIC angel: S&P” (June 13). The government of India should heed the grim warning contained in Standard and Poor’s report. The ruling party has plunged the country into crisis with a series of scams, scandals and corruption cases. The leading Opposition party, the BJP, is also mired in controversy and a leadership struggle. The party seems to have a one-point agenda — that is, to block all reforms initiated by the government. And so it thwarted the move to allow foreign direct investment in retail — a reform that could have stimulated investment and employment. The poor and even the middle class are frustrated with corruption and declining living standards. It will be a serious mistake on part of the ruling class to underestimate their anger.

Rajendra K Aneja Dubai

Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number