Viral Acharya, in an interview with ThePrint, says his and Urjit Patel’s dissent, resistance and exits from RBI limited the damage that could have been inflicted on financial stability.
In his book released Friday, Patel also wrote that governments use state-owned banks to pump-prime the economy during slowdowns and are unlikely to let go of this instrument.
Urjit Patel wrote to Arun Jaitley in 2017, pointing out problems of electoral bonds, and said govt had diluted RBI’s monopoly by taking away its exclusive right to issue them.
In 2022, athletes claimed they were asked to wind up training early at Thyagraj Stadium so that the IAS couple could walk their dog. Then came the memes and public outrage.
Instead of buying more Mirages outright in early 2000s, the requirement was tweaked in favour of a medium-weight, multi-role fighter with Mirage-like performance.
Pakistan not only has zero chance of catching up with India in most areas, but will inevitably see the gap rising. Its leaders will offer its people the same snake oil in different bottles.
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