Letters: Only one outcome

Apropos the editorial "Wrong Bill, wrong time" (August 28), thank you for summing up the game of Politics versus Economics precisely. The bets on this game have already been placed by the foreign institutional investors and rating agencies are all set to revise their scores. The captains have declared their game plan of not drawing any red line to indicate how far the rupee could fall. The silent spectators - millions of investors like me - don't need Cassandra's abilities to guess the outcome.

There are certain waves of optimism that come with random articles and comments. Mihir S Sharma's column "A pointless panic" (Policy Rules, August 23) was one such breeze. After comparing India with several other playgrounds such as Turkey and Indonesia, he concluded that all the pitches have a similar soil quality and maybe a similar game is unfolding everywhere, which is more global in nature. His analysis was unique, but it discounts one critical issue related to India - our massive, burgeoning population that now must be fed at unsustainably low prices.

The only thing that still keeps my optimism alive is that the new Reserve Bank of India Governor, who prophesied the sub-prime crisis, has not yet hinted at any probable defeat. I wonder if his suggestion on issuing of sovereign bonds was a subtle hint.

Anshuman Pant, Lucknow

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