Dr. Raghuram G. Rajan’ post Policy interview with Barkha Dutt

21 Jun

”  I think, you can’t do better than  (you know) work really hard on trying to understand the circumstances in which you are making decisions, and this is hard work, it’s not glamour, it’s going through the various reports,going through the data, then coming up with a judgement as to : here are the costs ” If I take this action”, here are the costs “if I take that action”, where are the costs low, where are the benefits higher, some of it not so clear cut, its amorphous, but you make that decision, ultimately  when people give you advise whether its you know from government or from industry or from else where, you certainly  listen to it, but they also rely on you to be the guardian of good judgement in some sense: so you should not succumb to wishes to any party, ultimately they will not thank you for that” they want you you to make that decison..”

― Dr. Raghuram G. Rajan’ post Policy interview with  Barkha Dutt, NDTV

I think Dr. Rajan is talking about professional merit. He has it in tons. But the government wanted more than that.

Barkha does great interviews and this is a great interview with Dr. Raghuram Rajan.  She substantiates this interview with a persuasive piece and writes  ” Had he been either prosaic or pliable his second term would have been a sure shot. As only the second Governor since 1991 to not get the customary five years, the message that the Modi government has sent is that there is no space for public intellectuals who are independent-minded; the Sarkar will never let you forget that you are expected to be a supplicant. This is why you hear the orchestrated whispers that Rajan went beyond his remit.”

For more : http://www.ndtv.com/opinion/udta-rajan-reh-gaya-pahlaj-1421061?pfrom=home-lateststories

As for what world has to say :

“Mr Rajan — a former International Monetary Fund chief economist widely known for his prescient, forthright warnings of the 2008-09 global financial crisis — has been seen in an almost heroic light for his assured handling of India’s  macro economy , including persistently high inflation and his tackling of its bad debt problem.

But Mr Rajan’s larger-than-life image, his plain speaking and his willingness to tackle tough issues head on may well have cost him his job  .”

For more:https://next.ft.com/content/303263ae-35dc-11e6-9a05-82a9b15a8ee7#axzz4Bzi0SHrz

I have mentioned this before and feel this goverment has operationally been better than its predecessor. It has a handsome mandate. But It’s self congratulatory.

A point about Subramanian Swamy, award him as much as possible for unearthing those scams in UPA, give him the honors….but what a waste of talent ” If you just make a career of  making  allegations and court cases..”. What’s the point…

One of my pet peeves has been no body supports a good person….

Dr. Raghuram Rajan has been a outstanding central bank governor.

Please do see the interview.

Have a good day dear friends!

Love, Suresh

 

 

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