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Your Editorial is COMMENDABLE
Dear Editor,
Your editorial titled 'BAJYAAPTI KARI BAANTA' dated 12th July 2013 is commendable. I congratulate you for your considered and judicious opinion and advice to the State.
The idea of creating a CORPUS to compensate the loss of selected investors partly, should have been strongly criticised, because those investors as you have rightly mentioned had invested in CHIT FUNDS to become wealthy over night. For their greed, taxpayers' money should not be misutilised like this. If they are to be compensated partly or fully, the money should be raised from auction or saleproceeds of the seized property of the Chit-Fund owners as you have rightly said. Properties of their patronsand collaborators should also be seized and pooled to the owners' property for distribution to the poor investors.
Another point I would like to make here in this regard. Yes the State/Government has a responsibility as CHIT FUNDS are doing their business as per the CHIT FUND ACT of 1982 passed by the LOKSABHA. But why our Parliament had legislated such an ACT ? I fail to understand the logic of this. Can the present Parliamentarians raise this issue in Parliament and plead for withdrawal or abrogation of the ACT? They should do that.
The last point I would like to make here that often it is seen that some people because of their own fault, foolishness, greed and anxiety incur loss , but in some cases they are compensated with the tax-payers' money be it from Chief Minister's or Prime Minister's Relief Fund or exgratia grants. That practice should stop as there is scope for misutilisation of tax-payers money. Tax payer's money should be spent on developmental activities only.
Any way please accept my commendation for your thoughtful editorial.
With warmregards,
Yours sincerely,
Narendra Prasad Das
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