...........“The Reserve Bank has served our country with great distinction. But, I venture to think that the best is yet to come,” the Prime Minister added. D.Subbarao has touched upon various facets of policy-making, the Prime Minister said adding, “I dare say, Raghuram Rajan will build on the experience of his predecessors to chart out a new course of action in very difficult circumstances that our economy is facing.” In his address, the outgoing RBI Governor Subbarao mounted a strong defence of the RBI’s policies, arguing that it was “oversimplification” to say that central banks went for price stability at the expense of growth.............
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Monday, August 19, 2013
PM wants RBI to re-think monetary policy
...........“The Reserve Bank has served our country with great distinction. But, I venture to think that the best is yet to come,” the Prime Minister added. D.Subbarao has touched upon various facets of policy-making, the Prime Minister said adding, “I dare say, Raghuram Rajan will build on the experience of his predecessors to chart out a new course of action in very difficult circumstances that our economy is facing.” In his address, the outgoing RBI Governor Subbarao mounted a strong defence of the RBI’s policies, arguing that it was “oversimplification” to say that central banks went for price stability at the expense of growth.............
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