Well prepared for a ‘consensus’ approach

My View on  "RBI Guv Could Be at the Centre of New Order": 

This discussion serves one-perhaps only one- purpose. It gives an opportunity to those who are not generally RBI-watchers and to those who are really serious about understanding the ‘equation’ between RBI Governor and the finance ministry to ponder deeper. Suffice to say that the debate may not affect the continuity at Mint Road or more specifically the broad policy perspectives of RBI. In retrospect- as one who had argued that, in the circumstances that prevailed in July 2013, it was in the fitness of things to allow another year’s extension for Dr Subbarao- it seems the decision to shift Dr Raghuram Rajan in August-September 2013 to Mint Road was right and has served the purpose of having at least one person at the top who can take charge of the leadership in the Indian Economy when most others were unsure about their own survival. Dr Rajan who has been doing his homework for the position that was waiting for him, is by now well prepared to ensure a ‘consensus’ approach in policy matters where he has a say. This is evident first from the chapter “Afterword: What Lies Ahead for India” he added to his book Fault Lines during the early years of this decade read together with his recent speeches and observations.

 - M.G.Warrier