...........Referring to the tenure of Dr D Subbarao as Governor, Dr Basu was all praise for the outgoing RBI chief. He said the position of RBI Governor deserves “dignity, honour & autonomy, which Dr Subbarao upheld”. “Dignity of RBI, autonomy is extremely important. During the tenure of Dr Subbarao it was upheld.” ...................
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Coming as it does from the previous Chief Economic Advisor of our own Government and now with the World Bank, it raises a sense of optimism and reassures that the economy can revive: its current imbroglio is set in the backdrop of the continuing recession in Euro zone. His endorsement of Governor Subbarao's tenure strengthens many of ours and at least should answer Arvind Panagariya.
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