Let me pick up two observations made by the esteemed economist:
"In a way, this new policy started with the current RBI Governor. I am sorry to say, but the timing connects to his tenure. His public pronouncements suggest to me that he really stands behind this policy,"
My view:
Definitely, there has been a shift for the better. More transparency and an effort to force fiscal policy support for Monetary Policy initiatives moving out from an eagerness to comply with signals from North Block to mention two things that separated Dr Subbarao’s tenure so far from the earlier Governors.
Panagaria said,
"We finally provoked him... we said we will question you and you have to answer" instead of just pronouncing on ideas and positions. "Ten years ago. nobody questioned Amartya Sen. Not today. The whole debate has been unleashed," he said.
My view:
An open debate on all issues covered in the latest book ‘An Uncertain Glory’ co-authored by Amartya Sen will do good to India, if the purpose is not to prove X or Y wrong, but to enable Planning Commission and those in charge of development efforts in New Delhi understand the ground level position better and move forward.
- M.G.Warrier
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