This refers to Vivek Dahejia's article "The real moral failure in the food security Bill debate" (May 7). One wonders where the question of morality of the "genuine centre-right, pro-market" goes when it comes to failures of "pro-market ethos that has emerged in India since 1991"? For example, the conscience of the author may remain rather unmoved by, say, facts about the so-called "pro-market" handouts to private capital. As a reader - and not an economist - one seldom comes across any moral compunction that the top 10 borrower groups in India account for 13 per cent of all commercial banks' outstanding loans. Or the burden of financing losses of banks stemming from private capital, as reflected by the 47.9 per cent compounded growth rate in volume of assets restructured by the banks between 2009 and 2012, while credit grew at 19.6 per cent. No tears for the "pro-market" economy, resulting in the public sector banking system shoring up private capital. It is convenient to shed "centre-right, pro-market" crocodile tears over "ruinous entitlements for the poor" from distant Ottawa sans socio-political accountability and morality closer home.
Ajoy K Das, Kolkata
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