....."The RBI is an autonomous body with full freedom to set interest rates in consultation with the government," say experts. But not much is not about the new economist who will be part of the Modi's team in the Planning Commission and Economic Advisory committees. Two names often doing the rounds are economists Jagdish Bhagwati and Arvind Panagariya , who have hailed the Gujarat model in the past. In fact , there was no dearth of advice for Subbarao during his stressful years in the RBI. Economists like C Rangarajan , Montek Singh Ahluwalia and Kaushik Basu publicly aired their views on the inflation and interest rates. That upset Subbarao. Rajan is no novice. He understands the mandate of the RBI and also the......
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1 comment:
The conclusion “But certainly Rajan doesn't enjoy the comfort factor that he enjoyed with the previous government.” is, to say the least, misleading. There is nothing in the text of this article, which justifies such a sweeping observation, unless Dr Rajan himself has shared such a view privately. We underestimate the strength individuals like the present RBI Governor gained from long years of dedicated learning process. They do not work to make themselves ‘comfortable’. If that was the intention, Dr Rajan would have been still in some corner rooms of IMF or Booth University.
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