Debate over rate right

.....the Srikrishna committee has wormed in some insidious elements in its recommendation that should set alarm bells ringing. These elements raise questions about the independence of the RBI going forward, and whether or not monetary policy should be conducted at an arm’s length from the government of the day. Neither the federal open market committee of the Federal Reserve nor the monetary policy committee of the Bank of the England — the policy-framing bodies in the two countries — has a representative of the government sitting in on the deliberations........

Read - The Telegraph