NSE case
While the ‘antics’ in the National Stock Exchange case are glaringly embarrassing, the situation needs to be assessed from a different perspective (Page 1, “CBI arrests former NSE MD Chitra Ramkrishna”, March 7). Those who invest in stocks are of two kinds: those who want to make big money quickly and those who are prepared to wait for a longer period for a bounty. In Ms. Ramkrishna’s case, the first category has been immensely benefited. All those who were blissfully unaware of the machinations have stood to lose heavily.
The nation too has been taken for a ride as a result of manipulation of the exchange’s server architecture. This has indirectly hit the Indian economy. What is still mystifying is how the top officials allegedly involved thought they would not face the prospect of being found out.
V. Lakshmanan,
Tirupur, Tamil Nadu
The purpose of my writing this letter is the hope that the editors of leading newspapers and magazines will act after being reminded of their responsibilities and the need to investigate a plethora of scams and scandals that have taken place in the country over the years, the NSE case being the latest. On another note, some of the good speeches of parliamentarians are hardly reported. In the past, almost every daily devoted a page or two to report the proceedings in Parliament. The pristine glory of the print media needs to be restored if there is substance to the media being called the fourth pillar of democracy.
R.N. Malik,
Gurgaon, Haryana
The Central Bureau of Investigation has its plate full. It is paramount that the investigative agency exposes all those who were hand in glove with Ms. Ramkrishna in committing serious fraud. One really wonders what the board members of the NSE were doing. All this could not have happened without the patronage of someone who was very powerful.
Tharcius S. Fernando,
Chennai
GST Council plan
Reports in the media that the GST Council is contemplating in its forthcoming meeting to increase the lowest tax slab from 5% to 8% is a shock. Some essential items including sugar, oil, spices, tea, coffee, etc. are taxed at 5% while fuel prices are also expected to rise due to the adverse impact of the Ukraine war — which in turn will cause an inflationary spiral. It goes without saying that if current GST rates and fuel prices shoot up simultaneously, the common man would be the hardest hit. The economy is already heavily burdened.
A. Mohan,
Chennai
Operation Ganga
It is unfortunate that some in the Government are more concerned about the public relations campaign surrounding the Central Government’s ‘Operation Ganga’ (Inside pages, “‘Operation Ganga’ is proof of India’s growing clout, says Modi”, March 7).
Even though the word “Ganga” has been added as a prefix to the mission, the Government needs to be reminded that the Ganga river cleaning project remains in limbo!
S.S. Paul,
Nadia, West Bengal
Shane Warne
There was a poetic quality to Shane Warne’s bowling and we could not help being drawn to it. Each delivery by him was sheer wizardry; it was beautifully crafted and executed with the deftness of a master spinner to bamboozle the batsman and test his skill to defend the wicket and score runs. Shane Warne and the ball — it was a lethal combination.
G. David Milton,
Maruthancode, Tamil Nadu
