Govt wants money from RBI. Rather sets targets for its fiscal deficits. Given Rs. 5 crores as capital but has taken back millions of crores as dividend. But it does not listen to great economists and bankers who run RBI. Even a corporator or Ashwani Mahajan of RSS Affiliate can ask RBI governor to either listen to GOVT or resign. Then who will head RBI to earn for GOI? If elected representatives of people are answerable as per FM Shri Jaitley, then why RBI Govr is asked to depose before JPC and other Committees for Govt action like demonetisation? Ministers and Bureaucrats can't manage the entire nation and all institutions. That calls for special skill and ability. As ex-Govr Raghuram Rajan said, economy is the car, Govt is the driver and RBI is the seat-belt. If driver does not want to wear the belt, not only he is injured but the car too. Presently, the car is more important than the driver who changes. If Dr Urjit decides to follow the earlier Govrs like Dr Osborne Smith or Dr Ramarau, it will impact Govt only. The entire financial world is watching and waiting for Nov 19. Govt should give more freedom to RBI and make the latter's directions applicable to govt owned banks also. No relaxation should be asked for implementing PCA and Feb 12 circular of RBI regarding NPA recognition. Growth is required but not at the cost of rising inflation.
Re: WHY THIS MEDIA CIRCUS ?
by on Nov 14, 2018 07:30 AM
Exactly. I agree fully. RBI works on certain intricate macro & micro economics which only the highly educated in economics can understand. Common people are not in a position to decide what is right and what not. It is a circus that the media is carrying on. On many cases the media is misleading the public as they themselves are not educated to understand the matter.
Re: WHY THIS MEDIA CIRCUS ?
by on Nov 14, 2018 07:30 AM
Exactly. I agree fully. RBI works on certain intricate macro & micro economics which only the highly educated in economics can understand. Common people are not in a position to decide what is right and what not. It is a circus that the media is carrying on. On many cases the media is misleading the public as they themselves are not educated to understand the matter.
