With the exception of a couple of newspapers, the print media refused to convey the content of Dr Subbarao’s August 29 speech. A reference to ‘walk alone’ comment made in the middle of the speech to wake up the audience has been flashed as if the speech was built up on a theme targeting FM. I agree with the observation ‘It would be far better, therefore, if the speech is seen for what it is: a call to respect institutions and institutional independence. The strength of a democracy lies in the strength and independence of its institutions. Governments come and governments go; institutions go on for ever.’ The speech ‘sets the records straight’ and gives an indication for Dr Rajan, from where to start.
- M.G.Warrier
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