........Note that the difference between Rajan the CEA and Rajan the RBI governor is not a comment on his ability to make a difference. More appropriately, it is a comment on the roles that the government assigns to its CEA and to the RBI Governor. The CEA is an advisor and more like a backroom boy, who does an important job for the finance ministry or the minister, but is usually not seen as taking decisions. In the past, there have been exceptions, where CEAs have played a more active and well-publicised role in policy-making. But in the last few years, CEAs have usually taken the backseat. In sharp contrast, the RBI governor is the head of an autonomous organisation that has to take decisions to impart stability to the economy and markets. By the very nature of the job, the RBI governor has to take charge of the situation and has to be seen to be doing things............
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment