Money matters

Sir — The internet is in an uproar over six recent redesigns of Jane Austen’s novels. There are already hundreds of covers of Austen’s works, ranging from the gorgeous to the objectively terrible. After all, the novels have been in the public domain for a long time. Anyone who wants to can republish them with whatever cover they made in Photoshop. The primary allegation against the new covers seems to be that they are an attempt to make a quick buck by designing covers that do not capture the spirit of Austen and rather cater to popular tastes. But isn’t it Austen who wrote, “A large income is the best recipe for happiness I ever heard of”?

Diksha Paul, Calcutta

Mixed reactions

Sir — The last full-fledged budget of the Mamata Banerjee-led Trinamool Congress government before the 2026 West Bengal assembly elections is inclusive, welfare-centric and realistic. A considerable increase in revenue allocation can boost employment in the state. Schemes like Nodi Bandhan can be an effective measure for flood management and to check river erosion and ecosystem degradation if implemented with a proper environmental impact assessment.

Prasun Kumar Dutta, West Midnapore

Sir —The treasury of West Bengal is staggering from bearing the burden of the government’s welfare schemes. Yet, the cash-strapped government has announced a 4% hike in the dearness allowance of government employees (“4% DA hike but central gap still wide”, Feb 13). This will definitely help government employees amidst the rising cost of living.

Shyamal Thakur, East Burdwan

Sir — Neither the Union budget nor the budget of West Bengal addressed unemployment, which is an issue plaguing both the country and the state. While the Centre gave tax relief to the middle, salaried class, the state budget looked after government employees. Who, then, is thinking about the unemployed?

Mangal Kumar Das, South 24 Parganas

Sir — The 2025 Bengal budget is dismal. It does not have anything for the unemployed, educated youth. It also does little for the beleaguered education and health sectors. Doles for popular social welfare schemes make people dependent on State largesse for survival.

Arun Kumar Baksi, Calcutta

Sir — The Bharatiya Janata Party and the Communist Party of India (Marxist) have criticised the 15th budget presented by the Mamata Banerjee-led government. However, Banerjee has defended the budget by saying that the Bengal Global Business Summit 2025 has attracted enough investment to generate employment.

Murtaza Ahmad, Calcutta

Rough ride

Sir — Commuters’ concerns about the quality of public transport will persist as long as urban mass transit is expected to generate financial returns matching or exceeding its costs. Public transport, especially in urban areas for those unable to afford private transport, cannot be a service that generates a surplus for the government, whether as a provider or regulator. Like education and healthcare, it is driven by ‘derived demand’ arising from the need to access work, education, and healthcare. A break-even public transport system is an unrealistic expectation. This is not a plea for inefficiency but for professionalism in service delivery. Public transport must be affordable yet efficient, with strict standards for providers to ensure compliance and accountability.

Abhijit Sarkar, Delhi

Volatile market

Sir — The recent turmoil in the small- and mid-cap sectors serves as a stark reminder of the risks retail investors face when markets become unpredictable. The advice from Sankaran Naren, the chief investment officer of ICICI Prudential Mutual Fund, to exit these stocks entirely seems warranted, especially as portfolios filled with these stocks have significantly underperformed. Small-cap stocks have consistently shown high volatility and this latest dip is a clear warning for investors to reconsider their strategies. It is essential to reassess risk levels and focus on safer, more stable investments. The current market uncertainty calls for prudent decision-making and patience in safeguarding one’s financial future.

Arjun Nallathambi Iyer, Chennai

Sir — The ongoing sell-off in small- and mid-cap stocks, coupled with Sankaran Naren’s warning, has sent shockwaves through the investment community. While it is crucial for investors to heed caution, this volatile period highlights the need for robust long-term strategies. Instead of panic-selling, investors should focus on diversification and systematic investment plans, ensuring resilience during market fluctuations. While recent declines in mid-cap and small-cap indices are concerning, the recovery potential remains. Patience is key in navigating this market turbulence and investors must resist the temptation to act impulsively.

Indranil Sanyal, Calcutta