This assessment of the role of the central bank and an appraisal of sorts of himself and his colleagues makes the case for longer tenures for incumbents at the top of institutions like RBI stronger. GOI should sit back and think whether it was necessary to ease out Subir Gokarn in just two years. Perhaps the error of judgment could be made up by planning in advance and ensuring at least a further two year term for Dr Subbarao who has by now understood the role of RBI and can execute a mission consistent with his vision briefly brought out in this New Year message to his colleagues. RBI and Indian Economy deserve a more mature treatment from GOI in 2013 !
- M G Warrier
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