The paper adds to ongoing debate on transfer of excess RBI reserves to the govt that has been a major bone of contention between the two parties this year.
Former CEA Arvind Subramanian says RBI autonomy critical but it’s also important to hold it accountable as there have been lapses like in case of IL&FS.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
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