No take-it-easy policy, please | Business Line

No take-it-easy policy, please | Business Line

Online comments posted on June 28, 2013:

True to the title of his column (Maverick view), S S Tarapore speaks out his independent mind, but with convincing arguments to support what he says. This column gives common man the comfort that, if, GOI or RBI goes off the track, occasionally under external pressures, it happens despite well-articulated warning signals.
Unlike most other organisations, RBI has maintained a continuity of the institution’s policy perceptions, which did not change with the changes at the top. The central bank has developed an institutional work culture which it has also tried to pass on to institutions it built with GOI in the financial sector. Thought of mentioning this just to ward off the misconception in the minds of some that there will be laxity on the part of RBI, once Dr Subbarao moves out.
Dr Subbarao has earned the ire from Finance Ministry for openly telling what his predecessors used to whisper in the ears of earlier FMs. UPA II and FM particularly should thank him for helping GOI to bring back some semblance of fiscal discipline. In the alternative, they can punish him by giving a one year extension.

 M G WARRIER, Mumbai

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