Date:11/08/2007 URL: http://www.thehindubusinessline.com/2007/08/11/stories/2007081150030800.htm

Back Rupee appreciation

The editorial “Value proposition” (Business Line, August 8) brings into focus the professional approach to the problems our country faces. Regarding the effect of the rupee appreciation, we have to move away from the 220;subsidy raj” being perpetuated by our politicians to solve all kinds of problems.

We need international loans to subsidise our systems of governance. Our tax law specialises in concessions, with a mind-boggling usage of the word “notwithstanding”. Agriculture sector and the oil industry need total subsidies, from cultivation to marketing.

Education is the topic of the day, especially the quota system based on caste, religion or gender. The list is big. But it is a heart-warming to note that the rupee appreciation has brought about a willingness on the part of the government to jump-start growth with a sensible policy on subsidies. One hopes such policies will continue.

V. Ramaswamy Mumbai