A window of opportunity | Business Standard

A window of opportunity | Business Standard

 Online comments posted on May 14, 2014:
 This is a timely reminder to both the central
bank and GOI. A change of guard in New Delhi is an opportunity to ‘stop, look
and proceed’ on all policy issues affecting India’s future. Financial sector is
important, maintaining the positive notes in the market is essential, but
equally important and significant is ensuring a smooth transition from pre-May
16 rigidities to post-May 16 scenario instilling confidence across divergent
sectors and geographical areas which are at varying stages of development and
therefore have different priorities.

 Such an approach will demand a thorough
understanding on the part of those who will be taking charge of governance in
Delhi, of the sources and uses of country’s resources, mapping them
irrespective of their ownership and ensuring appropriate measures for
preventing further leakages.
Forex reserves maintained by a
country is one of the indicators of a nation’s financial strength and therefore
building up reserves should be an ongoing process. RBI and GOI should also
bring transparency in accounting as also standardisation where necessary and
preservation of precious wealth lying idle with various organisations including
palaces, temples and other religious bodies.
M G Warrier, Thiruvananthapuram



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