......Like CAG, the Reserve Bank of India, too, has come under intense pressure. When the apex bank, much to the chagrin of the fiscal mandarins, did not reduce the policy rate, the Finance Minister P. Chidambaram said, “The government will walk alone”. By saying so, he sort of revealed his upset mind. There have been not-so-subtle suggestions to the Governor to rethink on the RBI stand on the policy rate. The recent spate of avoidable public interludes between the Government and the heads of Constitution-backed institutions show up the entire system somewhat negatively. This is not doing well either to the country, in general, or to the economy, in particular. What is required is co-operative co-existence and not demonstration of one-upmanship.
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