The article is well written and captures very accurately all the ills the economy face today for the action and inaction of the Govt. The author has also brought out the inadequacies on the part of the Reserve Bank in tackling the issues purely as a central bank and as a professional institution. Instead of the Govt giving support to the Reserve Bank for tackling the issues of the economy, the move of the Reserve Bank in playing to the tunes of the Govt is something unintelligible and unbecoming of an autonomous institution in case it is. The article should serve as an eye opener for all concerned and measures to prevent the economy from entering into a crisis situation similar to that of the earlier 1990s need to be initiated. It is not the issue of prestige of institution.it is the issue of a growing economy and this realisation is the need of the hour. As rightly warned,CentralBanking like politics should not become the art of possible. Kudos to the author for such a timely warning.
(This is in response to an article by Mythili Bhusmurmath appeared in ET dated 16/4/12)
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