The activities of Reserve Bank Of India should be evaluated once in two years by a body of Senior Engineers, Bureaucrats, Judicial Experts, Health Specialists and Economists.The same high level body should also monitor all senior level appointments in Reserve Bank Of India. Importing experts from outside to head a statutory body of India may not be very productive. .They may be members of evaluating bodies. India is a very large complex country and theoretical economic parameters may not help India much. Further our data collection system must be given due importance and must be improved. Grass root data collection system is required to be strengthened.
Looking back, it was a mistake to get these academics from US universities to join RBI. They are ideal for their brilliant comments on TV and for occasional memorial lectures. But primarily they should be allowed to remain in their universities ( where they are of course doing a great job). By mixing theoretical economics, economic policy and India politics, they create a mess !
Anyway, if financial markets will indeed severely punish Modi for mishandling RBI, then why bother? Sickulars should be happy and wait for it to happen!! Repair work can always be done if and when Congress returns….
The activities of Reserve Bank Of India should be evaluated once in two years by a body of Senior Engineers, Bureaucrats, Judicial Experts, Health Specialists and Economists.The same high level body should also monitor all senior level appointments in Reserve Bank Of India. Importing experts from outside to head a statutory body of India may not be very productive. .They may be members of evaluating bodies. India is a very large complex country and theoretical economic parameters may not help India much. Further our data collection system must be given due importance and must be improved. Grass root data collection system is required to be strengthened.
Looking back, it was a mistake to get these academics from US universities to join RBI. They are ideal for their brilliant comments on TV and for occasional memorial lectures. But primarily they should be allowed to remain in their universities ( where they are of course doing a great job). By mixing theoretical economics, economic policy and India politics, they create a mess !
Anyway, if financial markets will indeed severely punish Modi for mishandling RBI, then why bother? Sickulars should be happy and wait for it to happen!! Repair work can always be done if and when Congress returns….