The continuance of RBI Governor after May 16th should not have been the subject of gossipping by any one in the media as once some one is appointed based on merits and as per the Constitution,the matter ends. Both the Central government and RBI have common objectives irrespetive of the political partty in power,to achieve economic growth with price stability. Who occupies RBI's chair is immaterial provided, the person occupying is incompetent,inexperienced and indifferent to deliver the goods. As far as Mr Rajan is concerned, he has been brought back to India as an Economic Advisor based on his acdemic and professional merits par excellence and then has been appointed as Governor,expecting him to improve the economy and take it forward to bring it on par with some advanced economic powers of the world. Politics should not play mischief and media should not give ideas to play politics with such vital appointments which are essential to the economy' growth without interference of politics. Mr Rajan has proved his mettle during his last few months of performance particularly in bringing some order in the forex market and stability in the external value of ruppee and he has his own plans to bring back the growth keeping the inflation under control.Hope,the new Government will surely appreciate his idelogies and give him the full cooperation to take the economy forward. Hope Politics will not play spoilsport and take away the much needed condfidence in the Governance Standards by taking vengeance on the Previous Government's appointments and things like that.
Dr.T.V.Gopalakrishnan
(This comment appeared in Money Life)
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