Earlier the better

May 24, 2006, The Economic Times

Apropos of ‘Hauling up cement and oil cartels’ by Pradeep S Mehta (ET, May 23), the writer has raised the most important issue of the need to have the new competition law implemented at the earliest.

It is highly imperative that not only the new competition law be implemented at the earliest but also large-scale import on open general list with minimum duties is allowed in the sectors that witness hyper-inflation and stagflation.

Vivek Sehgal

Beyond blame game

May 24, 2006, The Economic Times

Apropos of the report ‘Who did it?’ (ET, May 23), while the blame game will go on, the sudden and sharp crash of price of almost all stocks is never possible without domestic and foreign operators working in unison, like a cartel.

They were aided by an incompetent Sebi which is proactive only in case of minor scripts and senseless CBDT norms to give vast discretionary powers.

The way to stop manipulation is to introduce a permanent system under which daily fluctuations in the price of each stock are restricted.

Devendra Narain

Exempt fully

May 24, 2006, The Economic Times

This is with reference to your edit, ‘Politicians and the sensex’ (ET, 22 May). I disagree with your view that removal of FDI constraints in insurance will lead to greater spread of insurance in India.

What is needed is not foreign insurance companies having competitive insurance plans but full tax exemptions to investments in insurance ‘Life and non-Life.
Anand Arvind Wadadekar