A BRICS bank is an idea definitely worth banking on today.Updated: Apr 01, 2013 23:28 IST
With reference to the editorial The foundation is a bit shaky (Our Take, March 29), instead of acting like doubting Thomases, we should welcome the concept of a BRICS (Brazil, Russia, India, China and South Africa) development bank, touted as the developing world’s answer to the World Bank and the International Monetary Fund. At a time when the developed economies of the West are in a recession, a BRICS bank will reduce the dependence on western funding institutions and would help member-nations to fund infrastructure development. A BRICS bank is definitely an idea whose time has come.
Vijai Pant, Nainital
Those who are suggesting that a BRICS bank is an idea worth pursuing are discounting the fact that the economics of any region is not free from politics. It is likely that a particular country, in this case China will dominate the bank the way the US and Europe dominate the Word Bank and the IMF. Thus, before working out the details for a BRICS bank, member-nations must first settle their bilateral political issues.
Sandeep Poswal, via email
BJP must sell Modi’s Delhi dreams
With reference to the report Modi moves to Centre stage, tainted aide Amit Shah in tow (April 1), it is apparent that Gujarat chief minister Narendra Modi is now a step closer to becoming the BJP’s prime ministerial candidate for the 2014 Lok Sabha elections. This development is likely to create a ripple effect — compelling other political parties to roll out their roadmap for 2014. The BJP should raise its pitch for its development icon Modi without letting infighting mar its chances against the Congress. Feted as a visionary, Modi could do wonders for the country’s growth story.
TMC Vasudevan, Mumbai
First Published: Apr 01, 2013 23:26 IST