Letters: Challenges remain

With reference to S L Rao’s article, “Just the beginning” (May 17), as the Narendra Modi government completed three years in office, the Indian corporate sector gave it a thumbs up. It will not be an exaggeration to suggest that this government is on the right track to achieve what it had promised when it took over. 

However, there are areas that need the government’s attention so that the economy can be brought back on track for sustained and long-term growth. Removing black money from the system and digitisation have been at the core of this government’s agenda.

While the government has strengthened itself, job creation and clean-up of the banking system remain its stumbling blocks. Clean-up of the banking system is directly linked with pick-up in bank credit and investment and the Make in India campaign. Until banks’ books are cleaned up and the banks are not recapitalised, fresh lending won’t happen. This will deplete investments in the country leading to lack of employment opportunities. The government has to act fast on these problems because technically only one and half years are left in its term.

The recent cyber attack, WannaCry, has exposed India’s vulnerability on online security at a time when the Prime Minister has been emphasising Digital India.

On the political front, the surgical strike against Pakistan created goodwill for India, but the situation in Kashmir Valley has been anything but smooth. The government will have to device a long-term strategy to bring peace in the Valley and engage with locals by creating enough jobs for them.

Bal Govind   Noida

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