Need separate debt management cell in Punjab
Apropos of ‘How Punjab can contain its debt burden’; the state may consider establishing an independent Public Debt Management Cell as an interim arrangement. A similar cell is working at the Centre under the Department of Economic Affairs, Ministry of Finance. It will help in the execution of efficient cash management practices. Later, the state can establish a permanent Public Debt Management Agency that can plan domestic borrowings for the government. It can be tasked to manage the state’s liabilities, monitor cash balances, improve cash forecasting, advice on investment and capital market-related operations, undertake R&D on debt and risk assessment and develop adequate procedures. Help can be taken from other stakeholders and experts to carry out its functions proficiently to build a stronger economy.
Vaibhav Goyal, Chandigarh
Freebies alone not to blame
Refer to ‘How Punjab can contain its debt burden’; the measures suggested in the write-up can be helpful in pulling the state out of the debt trap. Freebies alone cannot be held responsible for the sorry state of affairs because Punjab has been experiencing an economic slowdown since long. Freebies are social security measures that provide succour to many needy families. However, subsidies should be devised in a well-calculated manner. The finance ministry of the state government should be given the responsibility of planning everything within the limited framework.
DV Sharma, Mukerian
Financial prudence needed
Punjab’s debt is expected to cross Rs 4 lakh crore in 2025-26, posing a significant threat to its economic health. While initiatives like free electricity and water are populist measures, they come at a high cost. Subsidies might be beneficial to many people, but they strain the state’s resources. A sustainable financial plan is crucial to ensure that these measures do not lead to long-term fiscal crisis. Immediate attention is needed to balance welfare measures with fiscal prudence.
Muskaan Garg, Panchkula
Public needs to ask questions
Apropos of ‘Contempt of court’; it is a sad state of affairs that in spite of orders issued by the Supreme Court or high courts, the Central and state governments do not act. Government departments are infamous for slow decision-making and red tape. Governments give umpteen reasons for it — lack of budget, manpower, etc. The public needs to awaken and seek transparency and accountability in policies and compliance with court orders before voting for any political party. At the end of the day, it boils down to the fact that electoral considerations matter to the government more than anything else.
Harvinder Singh Chugh, Jalandhar
Mockery of judicial system
Refer to ‘Contempt of court’; the increasing cases of non-compliance of court orders is a serious threat to our overstrained judicial system. Getting justice from the courts is already a costly and lengthy process. Court orders not being implemented is a sheer mockery of the judicial system. In cases where the Central and state governments are responsible for implementing judicial orders, the courts should not show any leniency. In consultation with the Supreme Court, Parliament must strengthen the legislation regarding contempt of court. Summary trials in non-serious cases should be held within a fixed time frame to check further erosion of public faith in the justice delivery system of the country.
Jagdish Chander, Jalandhar
Trump’s tariff onslaught
With reference to ‘Trump’s tariffs poised to hurt India’; reciprocal tariffs portend a dangerous future for India’s export-driven sectors. The tariffs could undermine the competitiveness of Indian products in the US market, imposing severe costs on key exports like pharmaceuticals and auto parts. This could force India to lower its domestic tariffs, potentially conceding to US interests. Such a policy risks upsetting the economic balance, causing Indian producers to lose market share to competitors with more favourable tariffs.
Chanchal S Mann, Una
Letters to the Editor