.......Whether he manages to pull it off or not, the appointment is significant for India, where central bank governors struggle to protect their independence from being encroached upon by the political class. This is because interest rate is part of vote bank politics and the political class would love to have a say in the decisions related to it. Because of this their recruitment is done on political considerations rather than economic. But, it is also about a mindset. Sonia Gandhi, as a victim of intense verbal abuse for being a foreign national and chief of the Congress, would know about this better. Now, do we dare imagine a foreign national, however eminent she is, heading the Reserve Bank of India? You bet.
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