Oil prices: Good for some, not for others

Good for some, not for others

The crude oil price has massively declined from its former value (‘Indian shares wobbly, but smart money flows in’, Gulf News 29). The current oil price is $55 (Dh202) per barrel, down from $129 (Dh474) per barrel. Many economists claim that it is just an indication that the world is heading for another recession that could be much worse than what occurred in 2009 and 2010. This is a curse for many countries and a plus for some others. Iran has claimed that it requires $86 (Dh315) per barrel, in order to balance its budget. In countries like Russia, the situation is much worse. Despite Russian President Vladimir Putin’s concerned efforts to reduce the economy’s dependence on oil, crude oil contributes to a major portion for Russia’s Gross Domestic Product (GDP). With several sanctions imposed by the US and the European Union (EU), Russia is heading towards a recession.

However, for India it is certainly a golden opportunity for growth. Due to the diminishing crude oil price, India would be able to import more oil, thus fuelling its industries and stabilising the backbone of the economy. Maybe it is the “Modi factor” for Indian Prime Minister Narendra Modi given India’s potential growth, yet the fall in crude oil prices does play an eminent role in this.

The United States were initially affected by the same, however with the discovery of shale oil and other alternative sources of energy, their economy has been boosted. Though there are many other issues regarding shale oil, the US was able to manage its budget deficits.

The falling oil price is a matter of concern to most organisations. Though, the oil price is reviving, economists predict that there will be another slump.

From Mr Akshath Manikandan

Sharjah

Not a shock

Many Indians were upset because of the elimination of the Indian cricket team in the semi-finals of the International Cricket Council (ICC) Cricket World Cup (‘When Indian fans’ dreams died in Sydney’, Gulf News, March 28). With the form and performances in the last six months, I expected them to get eliminated even earlier. It was sheer luck some of the players performed during the preliminary round and that they entered the semi-finals. Due to their form, this World Cup did not create any interest for me to watch the matches. Elimination was not a shock at all. The other semi-finals in the past were close fought matches and both competed equally inline with the level of a World Cup.

Let the best team win the World Cup.

From Mr R. N.

UAE

Full name withheld on request

Couldn’t keep up

It is an undoubted fact that failure is an integral part of any field of life. One of the World Cup favourites, India, might have been unsuccessful in their run for a second consecutive World Cup win, but it cannot be completely blamed on them. Team work, consistency and brilliance by the star players have been shown very effectively throughout the 50 over showpiece. The semi-final match was not their day, as they could not pace the massive target set by the Australians.

From Mr Suhit Majumdar

Sharjah

Limiting offensive statements

Gulf News’ article on the potential law that curbed free speech online reveals a welcome ruling by India’s Supreme Court on the subject (‘Free speech upheld in India’, Gulf News, March 25). Freedom of speech is understood to be a fundamental right in a democratic country, but it must not be misused knowingly or otherwise. Everyone has the right to express themselves with the freedom of opinions. This freedom shouldn’t face any interference unless it hurts somebody. Action can be limited to the jurisdiction of religious sentiments. I would agree that such content needs policing by the authorities when differing opinions clash in public, inciting violence or harm. People can’t have an outburst at anything that comes across their way. Here, they can restrain their own freedom to express, without hurting the other side’s sentiments. Limiting freedom of expression means that public debates may not have to be completely suppressed.

From Mr M. K. Gunaseelan

Abu Dhabi

Free speech online

The Indian Supreme court verdict to scrap section 66A of the Information Technology (IT) Act is a welcome move. India is well known for its freedom of speech and expression and it is emphasised in the Indian constitution.

Previously, section 66 of the IT act gave wide power to the government to arrest people for making any offensive posts on social media. Rinu Srinivasan was arrested in the Thane district of Maharashtra, India for liking a comment made by Shaheen Dhada against a Bandh in Mumbai, India after the death of Bal Thackeray. The right to express one’s thoughts and is the basis of democracy.

From Mr Eappen Elias

Dubai

A real projection

The political analysis of present day India in this article was the true projection of the miserable condition of the Indian political scenario (‘Waiting for a Gandhi who never was’, Gulf News, March 25). Narendra Modi’s initial secularist pretensions are over. He is slowly coming out with his religious intentions and bringing them out into the open. His governance seems to be under the heavy influence of the Rashtriya Swayamsevak Sangh (RSS). With the notorious beef ban. He even wants to communalise the eating habits of the people. One sincerely feels that the Bharatiya Janata Party (BJP) cannot follow a true secularist principle. It is slowly trying to dump India into a communal pool. I strongly feel that India’s salvation lies with a party like the grand old Congress party without corruption.

It will not be correct to say that it was Manmohan Singh who brought about the fall of Congress. No Gandhi can perform this most difficult task. Perhaps a hero like Arvind Kejriwal can do the trick.

From Mr Thomas Matthew Parackel

Kerala, India

Needful action

I think it is too early to discuss the subject now and, at the same time, I admit the painful reality of India’s previous ruling party’s piteous failures in the last parliamentary elections and subsequent state elections. As far as political parties are concerned, losing elections and returning back to power are common political exercises in India.

However, the depth of defeat of the Congress party ignited a public talk about its future and its leadership, as well. Concerning the leadership, it is a fact that the party is going through a time with inefficient leadership and this fact disappoints a lot of the party followers, lovers and even impartial common people.

The party still has roots all over India and there is no efficient efforts established so far to coordinate this force actively. The Congress Vice President, Rahul Gandhi had given hope to the people when he entered politics. His activities in Uttar Pradesh were appreciated to gain 20 parliament seats in 2009 but, gradually he lost his image by making immature statements and public gestures.

This is the right time for the Congress leadership to think seriously about drastic changes on both the state and national level. In order to recover from the damage done, the party has to restructure, in a democratic way, and stand beside the poor and common people to establish a meaningful confidence in them.

I would like to reiterate that it is too early to talk on the subject, but if Congress party is late to implement corrective actions, Congress will become history.

From Mr Thomas B.

Dubai

Immediate surgery needed

The Congress in India is in the intensive care unit, politically (‘Is the Congress story over?,’ Gulf News, March 25). They need immediate surgery to survive, a thorough overhaul from top to bottom. First and foremost, I think that the Gandhi members should step aside and select an able leader from among its ranks who still has some credibility and connectivity with grassroots workers. Restoring confidence and rebuilding the party from scratch should be the highest priority. At the moment, Congress, organisationally, is too weak and has a lacklustre leadership making it even weaker. Politically, they have become irrelevant and they don’t have any real issues to take on against the present Narendra Modi government.

Compounding this is the mysterious absence of its vice president when the parliament session is debating critical issues. They need to get rid of people like Digvijay Singh, Mani Shankar Aiyar and many other leaders from the old political scene who still occupy space and, now, who cease to be of any relevance in the current scenario. They are not only irrelevant, but proving to be a huge burden and liability to the grand old party. Just like what the Bharatiya Janata Party (BJP) did to their senior leaders, Congress should take steps to bring in a lot of youth into mainstream politics.

Even after a series of defeats in elections, there has been a total lack of accountability and, even more annoying, is their denial of the current plight of party. None of the leaders have the courage to question the leadership. Their loyalty to the Gandhi family has impaired their vision to see beyond and to show any foresight. The sooner they realise this and take some concrete steps to stop the party’s decline, the better it will be for the party. If they don’t, they will soon become a thing of the past. In a nutshell, this grand old party of India requires a bypass surgery for its survival.

From Mr Ganeshan Srinivasan

Dubai

Crowd control

When I am travelling by Metro at peak hours, I have many strong sentiments that I hope the Roads and Transport Authority (RTA) can help in solving these problems. A few people always seem to be oblivious to the fact that they are blocking the way at the corners of the doors. Even if the RTA clearly displays that the corners of the doors are for boarding and that the centre of the door is for getting out, people still manage to stand in the way. Also, at peak hours, people who are carrying backpacks should hold their bags in their hands, where at least you can make a little more room for others to stand. Lastly, most of the crowd will be near the doors, whereas the middle of the compartment will be totally empty and the public won’t want to move from the doors. If these problems are solved, I think the Metro will not be crowded at all.

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