Import of Russian oil
This refers to the news item on India breaching the price cap of $60 set by G7 countries. India cannot shift to rupee-rouble trade as Russia is already grappling with the problem of disposing accumulated rupee reserves, with defence imports having further aggravated the situation. India need to explore one of the two possibilities. Either shifting to trading in UAE dirham or Chinese yuan.
But with political equations with China not allowing India to resort to the later route, the country needs to step-up by building oil refineries on a war-footing and extend the services of refining crude oil and re-export back to Russia seeking in return crude oil imports at a concessional rate without exceeding the cap of $60/barrel. With a massive trade deficit with Russia, India does not seem to have any other option but to look at such innovative ways to get itself extricated out of the present dilemma.
Srinivasan Velamur
Chennai
UCC hard to implement
This has reference to ‘The case against Uniform Civil Code’ (June 30). It would be unrealistic to expect a consensus ever to emerge in India around a Uniform Civil Code. Just as reservation, which was originally envisaged for a limited period, is getting extended due to political exigencies, UCC is bound to remain in cold storage. UCC is a sine qua non for India to emerge as a modern democratic secular Republic. Therefore, a beginning needs to be made at some point. The best course would be to introduce the UCC with a voluntary clause at the beginning. That the BJP has a political axe to grind in making the proposal at this juncture should not cloud the positive impact UCC can have on society in the long run.
Manohar Alembath
Kannur, Kerala
Not a burning issue
As everyone understands, Uniform Civil Code is being used as a mere tool to garner votes of the majority community. If implemented, it has the potential to alienate many among the majority Hindu community also. There are many burning issues on which the people want the government to act fast and provide them relief. The simple question is whether we need Uniform Civil Code or Uniform Distribution of Wealth in the context of the ever widening economic and social disparity.
AG Rajmohan
Anantapur, AP
Stem the price rise
Notwithstanding various policy actions, the prices of food articles and other essential commodities are surging, making life miserable for the poor and middle-class. The storage and logistics infrastructure needs to improve to ensure perishable goods do not decay and reach the markets speedily. Also, artificial scarcity is being created by hoarders.
Both the Centre and States must enforce strict measures to rein in such unscrupulous elements.
VSK Pillai
Changanacherry, Kerala
Market trajectory
The refers to ‘Retail investors must stay cautious’ (June 30). India’s stock market and its economy rarely seem to go on parallel tracks. Even as the country grapples with high inflation and jobless growth, stock indices are setting new records
The lack of safe and attractive savings avenues are driving investors to the market. New generation investors not schooled in thrift and savings cannot be expected to get wiser in a regime wherein big-investor sentiment prevails over fundamentals.
R Narayanan
Navi Mumbai