If you flaunt while owing a lot, it suggests you don't care: Raghuram Rajan

If you flaunt while owing a lot, it suggests you don't care: Raghuram Rajan: Excerpts of NDTV's Walk the Talk interview with Raghuram Rajan



January
28, 2016
Mind
reading
Apropos excerpts from
Shekhar Gupta’s walk the talk at Davos with RBI Governor (Business Standard, January 28), hats off
to Gupta for the brilliant questions which could make Dr Rajan speak out his
mind. Last question, first. ‘If India wants you to stay on…’, the answer is
positive when Rajan said ‘…we are in a good position; we need to keep working
on it’. India cannot afford to allow Rajan to leave Team RBI which is playing
the game well, to fend for itself by briefing another incumbent at the top for
another six months half-way through FY2016-17.
Rajan’s optimism
expressed clearly when he said ‘…but if the guys who are not behaving behave,
with them, and all the young entrepreneurs coming on stream, we have a world
class system’ should be supported by GOI with appropriate policy and
legislative support sought by RBI all along.
Now that there is someone
with clear perceptions about financial markets, position of rupee vis a vis
other currencies, relationship between inflation and return on investment/cost
of funds and institutional reform and is willing to plunge into action, all
stakeholders including government need to be proactive in their approach and
the joint effort can take the India growth story forward much faster. The
global scenario is conducive for such a forward push.
M
G Warrier, Mumbai



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