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Letters to the Editor

Business Today readers share their feedback on the magazine's coverage -
BT Online | Print Edition: October 25, 2015

Black Money Act a Mere Eyewash

This refers to your cover story on black money (White Money, Black Money, Grey Money, October 11, 2015). It would be naive to imagine that a mere Act can help the government bring back all the black money to the country swiftly. I believe that this issue has been given undue coverage and attention, especially in the wake of Prime Minister Narendra Modi promising `15 lakh in every citizen's account if he was voted to power. Black money does not work in isolation; as the story shows, it is not only impossible to track, but even more difficult to indict people for holding it. For the past six decades, governments of various countries have helped build the system of black money. How does one allow investments from tax havens with one hand and stop black money with the other? Black money abroad is a wonderful, deceitful dream that the government wants us to see, while it covers up its limitations in tackling it through half-hearted policies. If it really wants to do something about it, then just start with all the realty projects in NCR. The act of cleaning up, like social work, begins at home. Will the government make efforts to nab fraudulent property dealers in Delhi before attempting to arrest billionaires partying in Bahamas?

Vijay Malhotra, Lucknow

Business Today's article on black money was insightful and descriptive. In the run-up to the elections, black money had been highlighted as one of the most important issues that the NDA government would tackle. A year and a half into power, I guess the government has realised that bringing back black money was easier said than done. The Act is not much to write about, but nevertheless, I see it as an important start in our quest to fight this evil. I doubt any of the promised money will be credited to our accounts anytime soon but I still believe that this is a welcome step. I hope the governments continues to improve the Act and regulate investments that come from dubious sources.- Manoj Thakur, Pune

Bihar's Progress Hostage to Caste

This refers to your story Battle for Bihar (October 11). The story was lucid and managed to explain the situation without going into hyperbole. As someone who has been living in Bihar for the past 15 years, I must say that the present state of Bihar is like a half-baked cake; it looks fine to some but unappealing to others. Nevertheless, it is in a situation where it can soar to great heights, provided someone times the oven correctly. Also, I believe that no realistic development of Bihar is possible unless one looks at breaking the hegemony of the upper castes. With more than 80 per cent land under the upper castes, it is foolish to think that any development - social, economic or environmental - will benefit everyone. But sadly, it seems in the world of ballot politics, appeasing, and not opposing these caste barriers is the way to go forward. - Mahesh Brijnath, Kolkata

SME Growth Needed for Make in India

This refers to the story on Best MSMEs (Braving the Odds, October 11). It was great to see that despite so many limitations, a number of Indian companies have managed to do so well. While the bigwigs take up all the news space and coverage, it is these companies on which the growth and progress of India depends. Every state in this country has enough resources to set up their own universe of SMEs. I believe that the ease in lending for these companies has helped create an ambient atmosphere for businesses. It is now time to set up an exchange, especially for companies less than Rs 1,000 crore, so that they can list themselves and raise money from the public. Investments in such small, high-growth companies can help them scale up and take on bigger companies, which is important if we want to promote Make in India.- Prem Tiwari, Mumbai

Send all your comments to: editor.bt@intoday.com

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