US debt burden
This refers to “US debt downgrade, long overdue” (August 25). The US debt-to-GDP ratio has been above 100% since 2013, which means it is a “time bomb” that could explode at any time. Most of America’s debt is absorbed by other countries in the form of Treasury bills and mortgage notes. The strengthening of the dollar was not caused by domestic economic factors, but also benefited from the support of other countries. U.S. sanctions have forced countries to seek alternatives, putting the dollar in jeopardy. It’s time for America to think about its actions to get the economy back on track.
This refers to the “data spotlight” (August 25) on food inflation. For the average person, food inflation is a key parameter affecting their well-being.
The government’s WPI/CPI data often fail to reflect the cost of living problems faced by ordinary people. The data should provide policymakers with insights to formulate future courses of action.
giant in its own field
CR Rao, an internationally renowned expert in the field of statistics, died in the United States at the age of 102. He had a memorable time at the Indian Statistical Institute, where he spent four decades in an illustrious career. Although he entered the field reluctantly, he not only proved to be a brilliant statistician, but also became a mathematician. A laureate of Padma Bhushan and Padma Vibhushan, Rao mentored several young statisticians who later carved out their own niches in the field.
This references “The Funding Crunch: Banks, NBFIs Flood Into Money Markets” (August 25). The need for funds and the resulting increase in borrowing is a warning sign for lenders. Lending stress could prompt banks and finance firms to loosen lending norms. This pattern was also observed earlier, which resulted in a huge amount of non-performing assets.
The economy has changed and large loans are vulnerable, so proceed with caution when lending.
The application of artificial intelligence in the field of education
This refers to “Using AI to fan the flames of learning” (August 25). While it is neither good nor desirable to ban educational institutions from using LLMs and generative AI tools because of fears of plagiarism, it is necessary to create academic structures for their “ethical and responsible” use.
Publications like Elsevier allow authors to use AI to “improve the language and readability of their papers,” which is very different from allowing students to use AI tools for academic work. Allowing direct use of AI without any guardrails may encourage students to rely more and more on AI rather than their own critical competencies.
In the case of “Shipping Ministry considers PLI of Rs 11,000 crore for box manufacturing” (August 25), it will be too late but will give exports a much-needed boost. While offering incentives for container manufacturing is welcome, the amount specified may not be enough as India plans to dominate trade in the South Asian region.
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