According
to Arvind Panagariya, professor of economics at
Columbia University, performance of D
Subbarao has been worst in RBI history. Allowing unlimited forex
borrowing, not building enough forex reserves when Re appreciated in
2009-10, increasing rates and not putting enough emphasis on growth are
some of his failures. How are we going to pay for this?
MORAL OF THIS ARTICLE
Never buy the horses from the same place. Don't bring another GUV from Min of Finance. The story will replicate like uncontrollable chain reaction.
- Sitendra Kumar
2 comments:
Recruiters in Government of India or elsewhere prescribe many minimum qualifications and experience in field of job for appointments but in case of IAS , it is only IAS degree for any job.
The tragedy is that IAS Officer becomes expert in one day from Administration to Petroleum to Education to Defence to Economist or Minerals like coals , steels etc.. etc. And appointed to the helm of the posts which none can reach.
It happens only in India. If not then why senior most RBI Cadre DG Shri Anand Sinha > H R Khan can't become Governor RBI till reaching the age of 65 years. Let good wisdom to prevail on PM / FM or the Almighty God give them wisdom to do it in public interest and avoid public controversy. Any how these officers have been working in RBI more than 30 years continuously and well equipped with RBI Functions which IAS Officers don't know a bit.
The commentator would please recall that even his predecessor is from the civil service. It is not what service he comes from as much as what expertise one has. I do not know whether the commentator of the experience of dr Subbarao who spent most of his career in Finance and Economics both at the Centre and State and also served the World Bank with a total comprehension of both Indian economy and the global economy. Things have gone bad not because of him but in spite of him. Objective assessment would do well instead of subjective conjectures.
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