India, economy
Sir: About a year has elapsed since the NDA government came to power at the Centre, with a clear-cut mandate from the people of India. People had high expectations from the new government mainly on the economic front and the steps it would take to create an investment-friendly environment during the last one year. Some positive results are there for all to see, as is duly recognized by the UN in its World Economic Situation and Prospects(WESP) Report released few days back.
It forecast the economic growth rate of India will surpass China in year 2016. It has projected that the India’s economic growth rate will reach 7.6 per cent in the current fiscal and about 7.7 per cent in the years 2016, compared to China’s 7 per cent and 6.8 per cent in the year 2015 and 2016 respectively. Indian economy is growing faster than that of China.
This increasing growth rate will certainly boost economic development and create more job opportunities in the country. It is pertinent to mention here that the inflation rate stood at 4.87 per cent in April despite rise in prices of dal and pulses, as also edible oil. Inflation is averaged at 8.60 per cent from 2012 to 2015. The steady growth rate has also resulted in record Foreign Exchange Reserves(Forex reserves) of about $3,52,131million as on May 8, 2015.
The UN report further adds that the present South Asian economic situation is “largely favourable” for economic growth. It means the conditions are ideal for India and the people expect a more impressive performance from the Union Government in the days ahead.
Ratikanta Mahapatra, OFS, Courtpeta Square, BERHAMPUR
Marriages, money
Sir: While reading puranas (hindus holy books), especially the chapters related to marriages of Gods, one is treated to the specifics of such grand affairs. Now it has become more glamorous events and people are spending millions. Such people either spend their black money to wash off their sins, or gain credit by way of a show off. The amount spent on such events could instead have been utilised for the welfare of the poor and needy in the society. Why not help arrange samuhik vivahs (community marriages)? If the government is serious about tracking black money, these marriages are the venues to be followed up. It is strange how people get carried away by such fanfare. This is nothing but vulgar display of wealth.
Sunil Pradhan, Khariar, NUAPADA