Business Standard

<b>Letters:</b> The money business

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Business Standard New Delhi

This refers to “Crores or millions?”, August 21. T N Ninan’s suggestion that the method for counting the rupee should be changed is logical and significant. Moreover, implementing the change from lakhs and crores to millions and billions is likely to be much easier compared to the one from the British to the metric system in the sixties.

The shift from rupees, annas and pies to decimal rupee or from yard, foot and inch to metre baffled everyone, the rich and the poor, the rural and the urban alike. The conversion was as much difficult for the poor who bought cloth by the yard (when he could afford it) as it was for the rich who measured his land in hundreds of square feet. However, the move proposed by the author would affect only the affluent section of the society and macro economy as the rest of the people would continue to count their transactions in tens, hundreds and thousands.

 

The change will bring the country a step closer to the contemporary systems.

Y G Chouksey, Pune

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First Published: Aug 24 2010 | 12:43 AM IST

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