MyVoice: Views of our readers 8th October 2021

Rating uptick too early

The Indian economy contracted 7.3 per cent in the 2020-21 fiscal and Moody'supgrades India's outlook as stable. Moody's has projected a 9.3 per cent growth in the current fiscal ending March 2022. For the calendar year 2021, it cut growth estimates sharply to 9.6 per cent. It is doubtful if the upgrade will happen so soon. Efforts to fix the economy and generate maximum employment will automatically result in upgrades whatever be the mood of Moodys. Ratings upgrade is too early. A lot of positive steps by India over the last few months but it will take another year or so for the dust to settle for a ratings upgrade. It's not just a second wave but demand degrowth also has hampered the country's prospects.

C K Subramaniam, Mumbai

Adamant farmers' stir taking a violent turn

The continuing protests and literally sealing up of Delhi borders by the farmers of Punjab and Haryana is escalating day by day with some mischievous elements attempting to create some sorts of violence in order to gain sympathy from the people of not only our country but from throughout the world. The farmers have come to know that the Centre is not going to yield to their pressure tactics in spite of some farmers unions carrying on the protests for around 6 months. Now the only way according to them is to create and orchestrate some sorts of violence somehow to draw attention from the higher ups. It would be appropriate at this juncture that the Supreme Court advises the farmers through a senior judge to withdraw all protests and wait for the outcome of the issue which is taken up by it on a war footing. There should be an end to these indefinite protests and the supreme court can definitely play the role of a counsellor in this issue.

Katuru Durga Prasad Rao, Hyderabad

Most-sought-after future destination for shootings

The endeavour of a Russian film crew to shoot a full length movie in space with ISS as its main location is sure to go into the annals of space history as this movie will have a real-time actress, Yulia Peresild and director Klim Shipenko who will be completing their task in twelve days and there by creating a record of becoming the first film crew to do such a task in space history even though shorter film shooting have been conducted earlier. The Russian film titled "The Challenge" will have the shooting done on the International Space Station. Space tourism has already begun and now with film shootings happening space will be the most sought after future destination. A day is sure to come when Hollywood and our own Bollywood stars and directors will make a beeline to space for film shooting! And when it comes to Bollywood we can definitely expect some peppy duets , romantic numbers and action packed episodes happening in space!

M Pradyu, Kannur

Go to roots of drug chain

The Narcotics Control Bureau (NCR) dramatically arrested SRK's son Aryan and others, while they were allegedly into a rave party on a luxury liner on the way to Goa, in the mid-sea, with a variety of narcotic substances in their procession. It is sad and unfortunate to see that rich kids of Bollywood are seeing indulgence in drugs as a phase of growing up into macho adulthood. The recent case of Sushant Sigh Rajput, who had fallen prey to drug abuse, is before the Bollywood to correct the ways for such indulgences. However, there will be experienced advocates to retrieve these delinquent children of rich parents in the film industry. The NCR must go to the root of the drug chain in order to finish off the drug mafia that is proliferating in the country to ruin the lives of gullible youngsters in society.

K V Raghuram, Wayanad

A foregone conclusion

Apropos 'Mamata wins Bhabanipur with record margin' (4 October). It was a foregone conclusion that the West Bengal Chief Minister would win the Bhabanipur by election with a high margin. The record has proved that as Chief Minister, she has managed to win by a margin more than the TMC MLA who was made to vacate the seat for her. Didi's win is another setback for BJP as more from BJP would cross over to her party. In fact even before this more power hungry leaders from other parties (in particular Congress) and my spouse has rightly said a song from Parichay ``Sare Ke Sare .... Didi Key Saath Hui hai" suits very well . If re-written, it can be "Sare Kay Sare MLA Didi Kay saath chale; Modi nahi, Rahul Nahi, Didi Kay Saaath hai Sare." However, it is important that she herself and her party leaders should maintain humility and should not show arrogance.

N Nagarajan, Hyderabad

A cruel joke by RBI

RBI's recent consultative document recommendations propose lifting of current ceiling on ROI proposed to be charged by NBFCs and MFIs which will result in allowing charging of annual ROI on microfinancing from 22 to 26% PA and even higher to the gullible households for their credit needs. This will be many times much more than the cost of funds to these entities besides processing fees and other charges by such lenders. This a revealing account of lack of competence in RBI bureaucratic setup which appears grossly cut from the ground realities of life. Unfortunately, instead of strengthening banking system to lend affordable credit to the poor where these poor strata maintain their savings accounts, RBI proposes this loot by NBFCs/MFIs which must not be accepted. Recommendations if implemented will be much exploitative of the poor. This is a cruel joke in the name of extending credit to the poor.

Brij B Goyal, Ludhiana