There is sense in the argument “ The only way to make the government pay the real price for its borrowing is setting up a separate debt management office.” But at this juncture if the central bank stop supporting GOI’s finance (read debt) management, there will be chaos in the Indian financial market. FSLRC does not seem to have gone deep into the country-specific issues or the evolution of the responsibilities of RBI. ‘Cut and paste’ approach to institution-building in financial sector will be disastrous.
- M.G.Warrier
No comments:
Post a Comment