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| RBI guv must put the economy back on track before he goes in a year ......Subbarao can act at the cost of upsetting his bosses. But then, his real bosses are not in North Block. They are the 1.2 billion citizens who still believe that RBI is the watchdog against inflation and a doctor to rejuvenate the economy. Subbarao still has a year to go. He can meet those aspirations or leave with the economy in a deeper mess. |
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Saturday, August 11, 2012
Subba row
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With certainty of less than a year left in office, we can rest assured that Governor Subbarao will continue to speak loudly and walk his talk within the given contours of legislative mandate. He has made it clear long back that tinkering with ‘rates’ is just one of the so many things expected of RBI and he would oblige North Block provided some reciprocity by fiscal policy support is forthcoming. He is a person acceptable to PC and let us hope the combination achieves the desirable result, namely a sustainable marriage between fiscal and monetary policies. Next one year is therefore a period worth watching.
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