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.
Meghnad’s interest went much beyond economics and politics. This is reflected in his writing, particularly after his retirement as a full-time LSE professor in 2003.
In the latest budget, the FDI limit was increased to 100 percent, but most foreign companies are not buying such large stakes in the Indian insurance sector.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
Not just the central bank should be allowed to say ‘no’, every other institution should have that right.
Saying yes or no agreeing or disagreeing with the elected government eventually leads to a decision.
If the decision goes wrong who is held accountable? THE ELECTED GOVERNMENT so the one who pays the price must have the final say.
No matter what the result so long as the elected leader is well meaning and credible people will understand his mistakes committed in good faith, so he will come back to power or it could end his political carrier.
While an un-elected decision maker always has the option of going back to his or her earlier carrier.
Not just the central bank should be allowed to say ‘no’, every other institution should have that right.
Saying yes or no agreeing or disagreeing with the elected government eventually leads to a decision.
If the decision goes wrong who is held accountable? THE ELECTED GOVERNMENT so the one who pays the price must have the final say.
No matter what the result so long as the elected leader is well meaning and credible people will understand his mistakes committed in good faith, so he will come back to power or it could end his political carrier.
While an un-elected decision maker always has the option of going back to his or her earlier carrier.