The Hindu : Opinion / Letters to the Editor : Gigantic stimulus

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Friday, Nov 14, 2008
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Opinion - Letters to the Editor

Gigantic stimulus

The editorial “A gigantic stimulus” (Nov. 13) on the Chinese government’s alternative strategy to combat the global meltdown was brilliant. The analysis of the situation in India demands serious attention. The Left parties, particularly the CPI(M), have enlisted a well thought-out package that includes increasing public spending that will improve the income levels of the ordinary citizens. When will our policymakers stop linking growth to the swings in the share market?

S.V. Venugopalan,

Chennai

* * *

The gigantic stimulus provided by China for protecting its domestic economy from the global crisis is entirely different from the measures announced by the U.S. and other countries, including India, which addressed the financial health of banks and other institutions. The Chinese are addressing the root cause and increasing public expenditure which generates employment and increases the purchasing power. Could they have done it had they dispensed with regulation — as successive Indian governments are ever eager to do under the U.S. tutelage?

Kasim Sait,

Chennai

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