Letters: Rich lists | Business Standard

Letters: Rich lists | Business Standard

The link is for the published version. Unedited version copied below:

Final diagnosis

This refers to the report “Banks wrote off Rs1 lakh crore in 13 years: Chakrabarty”( November 19). It is heartening to find that though late in the day, a debate on who favours whom is getting initiated at the highest level. This is good for the health of the economy. For treating any ailment, diagnosis is the most important and perhaps, crucial, step. It cannot be different for an ailing economy. Indian economy has enough resources to restore its health.
Revelations like the one now made by RBI Deputy Governor about write offs in favour of wealthy by banks and annual waiver of taxes payable by corporates(that could be several multiples of one trillion, if the figures during the last ten years are added up ) while tabling Budget Estimates in Parliament, will give a rough picture of how the rich is becoming richer. May be the government or any organisation at national level should compile this information as also create an inventory of estimated domestic stock of gold and other precious tradable resources. Bringing transparency in these areas will prove to the world that India is not poor, though its people are.
M G Warrier, Mumbai


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