Even though we criticize Dr.Subbarao for his actions as RBI governor we have no doubt that he is good at heart. He wants to help but it is unfortunate that he is not able to withstand huge pressure puts up by the
corrupt political bosses, mafia corporates, pimp media and brokers.
However it is confirmed that he is not get extension for another period as confirmed by Mr.P Chidambaram Minister for share market and real estate welfare also holding additional charge of finance ministry. As suggested by Mangoman few weeks back, it is good that Subbarao is moving on. Let us analyse few things now.
1. Already finance ministry started looking for scapegoats to put blame on for the coming economic debacle. Subbarao cannot escape and there are high chances that he will be squarely blamed for the mis management. Better jump out of sinking ship as soon as possible.
2. I like the time bomb he planted in the RBI in the past 2 weeks. That is class act and I think he knew that the government days are numbered and so it is time to show some spine. By planting the time bomb ( reducing repo limit for banks), he made sure automatically interest rates would go up whether govt likes or not.
The effects of the time bomb will show itself in few days time. I mean it.
corrupt political bosses, mafia corporates, pimp media and brokers.
However it is confirmed that he is not get extension for another period as confirmed by Mr.P Chidambaram Minister for share market and real estate welfare also holding additional charge of finance ministry. As suggested by Mangoman few weeks back, it is good that Subbarao is moving on. Let us analyse few things now.
1. Already finance ministry started looking for scapegoats to put blame on for the coming economic debacle. Subbarao cannot escape and there are high chances that he will be squarely blamed for the mis management. Better jump out of sinking ship as soon as possible.
2. I like the time bomb he planted in the RBI in the past 2 weeks. That is class act and I think he knew that the government days are numbered and so it is time to show some spine. By planting the time bomb ( reducing repo limit for banks), he made sure automatically interest rates would go up whether govt likes or not.
The effects of the time bomb will show itself in few days time. I mean it.
Kalpesh
ReplyDeleteLungi Dance Lungi Dance Lungi Dance!!!!!!
Watch P Chidambarams Lungi Dance on national News channel Everyday. Lungi Dance will increase as economy gets worst.
Dear Mango,
ReplyDeletePlease can you do a post on how this chain of events will now evolve ie. since government has run out of bullets,things will now follow a natural course.Where do you expects things to be in a horizon of 6 months to one year?
Suresh