The author has some axe to grind and he thinks that by just cutting the RBI policy rates,the economy will revive. It is nothing but absurd and reflects only on intellectual deficit to assess the over all position of the economy. The infrastructural bottlenecks, like power, land labour and capital which attract investments has been lagging behind in the economy and dirty politics pursued by the opposition without seeing the rhyme and reason to pass certian essentail bills like Land and GST has an adverse effect to push the economy.The interest rate cut is insignificant in the over all costs and other supporting systems required to revive the economy. Why not the author do something to get rid of the inherent weaknesses seen in the bankning system which is driven by political aspirations, financial loot through Non performing loans, etc. It is easy to blame Dr Rajan who has been doing an excellent job in the interests of the economy and its people. For Dr Rajan this job is a challenge and not a necessity. He has a vision and a misson to achive for this great nation and Central Bank is the most appropraite place for him. Mr Modi will be the most happiest person on Rajan's achievements and performance as his dream of having ache din for all can be realised only through people like Dr Rajan.
Dr. T.V.Gopalakrishnan
(This comment is given in eET dated 12/09/15 against the article biggest threat to Modi's threat to ache din is Dr Rajan)
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I entirely agree with the views expressed by Gopalakrishnan. From the time of his coming to Mint Road, I have been watching Dr Rajan and have found an excellent performer of duties and commitments as Governor. The first article on Dr Rajan I wrote was published in The Global ANALYST, September 2013 in which I had also listed the challenges before him. The article has been included in my 2014 book "Banking, Reforms & Corruption:Development Issues in 21st Century India". In my article "Not Just a Rate-Cutter, RBI has a Larger Role" published in September issue of The Global ANALYST, I said "...It will be in the national interest for GOI to seriously persuade him to accept another term, this time preferably full five years, till 2021."
M G Warrier
mgwarrier@gmail.com
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