Centre should allow local authorities to take the final call

Mumbai's desire for height

Business Standard

Every Monday, Business Standard analyses one family's finances and suggests a suitable way forward

Case study

Realty check

This refers to the article "The interest rate illusion" by Jyoti Mukul (May 30). It is a well-understood concept that growth is a function of several things. Merely reducing rates is not going to put growth back on track. We need investment mobilisation, combined with other things, like expediting infrastructure development, setting a legal framework that aids business and, of course, the right human capital. The author is correct in pointing out the cost of money doesn't determine everything in today's economy; a host of other factors that also play an important role need to be set right.Aseem Naphade, New DelhiLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201  Â·  E-mail: letters@bsmail.inAll letters must have a postal address and telephone number

Letters: Interest rate effect

The suggestions in the edit "Mumbai's desire for height" (May 31) will make bad conditions worse. The solution is decongesting Mumbai. The Centre and state can take the lead by shifting Central and Western Railways from Mumbai to a town and providing living accommodation free. The funds can be generated by selling properties in Mumbai at peak prices. The city's crumbling infrastructure can't support the huge demand for water and power.M M Gurbaxani,  BangaloreLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201  Â·  E-mail: letters@bsmail.inAll letters must have a postal address and telephone number

Letters: Decongesting Mumbai

Apropos the news report "Navy eyes high-tech options for future aircraft carriers" (May 31), the future belongs to drones that can fly from aircraft carriers and the US Navy is using such  vehicles. India should have nuclear aircraft carriers, with high-tech options like airborne early warning systems and electro-magnetic aircraft launch system. It can develop these because it has a vast network of engineering colleges, Indian Institutes of Technology, research and development institutes, the Defence Research and Development Organisation and a robust private sector. We need policies to develop capabilities and a goal for zero imports. A strong navy is essential to safeguard sea routes. China is fast developing the capability for aircraft carriers and anti-ship missiles, which even the US has taken note of.Â Deendayal M Lulla,  MumbaiLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201  Â·  E-

Letters: India's defence capabilities

In the context of the current controversy surrounding cricket, responsible individuals and organisations are suggesting the legalisation of betting. There will be plenty of scope for corruption even then. One hears of recommendations to legalise prostitution, bribery, euthanasia (voluntary or involuntary), etc. This testifies to the inability of the authorities to enforce laws. Despite the laws, it is laughable to be told there is a need for a legislation to ban cheating and fixing in sport. Cannot Section 420 of IPC take care of such crimes? Many illegal activities are taking place. If there is a terminal patient, the doctor asks the family if he could remove the ventilator on which the former is dependent and let him die. The relatives agree, given the high cost of maintaining life. Perhaps there should be a national debate involving all sections of the society on how far we can dispense with our values and adopt the easy path of living with crime.A Seshan,  MumbaiLetters can be mail

Letters:Neo-ethics for new century

Almost banished by the senior leaders of the Bharatiya Janata Party (BJP) from entering the political arena in Madhya Pradesh, the former chief minister, Uma Bharati (pictured), and her supporters hit on an ingenious way of doing so. Instead of a political rally, Bharati celebrated her 52nd birthday by holding a public meeting in Madhya Pradesh. Although her supporters want her to return to the state, the present chief minister, Shivraj Singh Chouhan, is insecure and has ensured that Bharati doesn't get involved in political activities there. And since the Assembly elections are due for November this year, senior BJP leaders are keen to indulge Chouhan  - for now.

Birthday politics

The agriculture minister appears to have dispensed with the idea of receiving visitors. That, at least, seems to be the message emanating from the fact that the waiting room outside Sharad Pawar's office in Krishi Bhavan has become an office for a member of his staff. This means visitors to meet Pawar have to cool their heels in the corridors till he's ready to meet them. In contrast, his counterpart in food, K V Thomas, not only refurbished the visitors' room, but is also planning to install an air conditioner.

No visitors, please?

Senior bureacrat and prime ministerial adviser T K A Nair was the chief guest at an event to release a report by Dun & Bradstreet on the top public sector units (PSUs). The topic of discussion, "Corporate Social Responsibility (CSR)", took Nair back some 50 years down memory lane. When Nair joined the services in 1963, many of the public sector units were still being formed. Though the concept of CSR did not exist, these units used to build schools for children of employees and housing for employees. Nair recalled how there used to be criticism then that PSUs were getting into building houses instead of building factories and focusing on manufacturing. "But these steps paid off in the long run." Now, of course, things are different, with a demand for companies to focus on socially-useful activities, and the new companies Bill, waiting to be passed in Rajya Sabha, requires companies to spend two per cent of their profits on CSR activities.

CSR's long journey

Rescuing Infosys

Recovery is not guaranteed unless govt spends on asset creation

Stuck at the bottom?

What if a National Pension System (NPS) subscriber stops investing without paying the minimum amount? The subscriber will have to bear a default penalty of Rs 100 a year, and the account would become dormant. To reactivate the account, the subscriber has to pay the minimum amount of Rs 6,000, along with the penalty for the dormant period. The dormant account would be closed if the account value falls to zero.What happens to the investments if one discontinues the scheme?If a subscriber plans to exit or discontinue NPS before the age of 60, he/she has to compulsorily withdraw up to 20 per cent of the accumulated sum and buy annuity with the remaining money. If the subscriber dies before 60, the entire sum goes to the nominee.

Tipping point

Cement large-cap stocks have underperformed broader markets since October on lacklustre demand/earnings cuts

Present tense, future perfect

Excerpts from Prime Minister's interaction with the media on board his flight from Bangkok on May 31

In politics, there are no permanent allies and enemies: Manmohan Singh

What happens when you point out India is regressive for women?

Sherawat vs India

Lessons, micro and macro, from a year's product launches

A slowdown hits home

Apropos the news report "Aruna Roy ends NAC tenure, to work 'from outside'" (May 30), activist Aruna Roy has rightly decided to quit the National Advisory Council (NAC), which is chaired by Congress president and UPA Chairperson Sonia Gandhi. The reason cited by Roy is that the prime minister rejected the NAC recommendations on payment of minimum wages to workers under the  Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).The NAC, an extra-constitutional organisation created by the government in June 2004, was said to be an advisory body set up to monitor the implementation of the United Progressive Alliance government's common minimum programme. However, it acts as a super Cabinet and formulates populist policy and programmes. Not only has this weakened the constitutional office of the prime minister but it is also an encroachment on Parliament's powers. The MGNREGA and the food security Bill are the brainchild of the NAC, imposed upon the elected government. The MGNRE

Letters: The trouble with NAC

History offers a long view of events. How long? GAIL India Chairman and Managing Director B C Tripathi provided a perspective of sorts when quizzed on the prospects of the long-awaited Turkmenistan-Afghanistan-Pakistan-India gas pipeline project. He told journalists that the company had government clearance to be part of the special purpose vehicle, and gas-sharing deals were already in place. Responding to this, a journalist said, "We have been hearing this for the past one year. What is the present status?" To which Tripathi provided a tart answer: "Look, historic projects happen once in 15 years, so it may take some years to change the status."

Steady state

Thanks to the spot-fixing and betting scandal, any association with the hugely popular Indian Premier League (IPL) is no longer considered appropriate, especially not for corporate India. Thus, Tata Hitachi Managing Director Rana Sinha initially attempted to equate his company's leadership in construction machinery with the success of the IPL but stopped short, saying the comparison was hardly apt, given the recent controversies.

IPL's hit wicket

What is the distance between a boardroom and a press conference room? If that sounds like an odd question, Oil and Natural Gas Corporation Ltd (ONGC) discovered that it could make a Rs 3,446-crore difference. At least, that is the figure by which the public sector company's turnover appeared to have inflated in the journey between the two rooms. Presenting the results to journalists after the board meeting, Chairman and Managing Director Sudhir Vasudeva said, "We have recorded the highest-ever turnover of Rs 1,65,849 crore; up 9.8 per cent." Then he paused and asked his officials, "How can this be Rs 1,65,849 crore? In the board meeting, the figure was something else." The company officials quickly chipped in with the exact figures. "It was a mistake, the figure is Rs 1,62,403 crore," Vasudeva went on to clarify.

Business Standard

Business Standard

Page 726 - Business Standard

Mumbai's desire for height

Case study

Realty check

Letters: Interest rate effect

Letters: Decongesting Mumbai

Letters: India's defence capabilities

Letters: Neo-ethics for new century

Birthday politics

No visitors, please?

CSR's long journey

Rescuing Infosys

Stuck at the bottom?

Tipping point

Present tense, future perfect

In politics, there are no permanent allies and enemies: Manmohan Singh

Sherawat vs India

A slowdown hits home

Letters: The trouble with NAC

Steady state

IPL's hit wicket