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LATEST NEWS UPDATES | Demonetisation has not worked, no two views about it: Bimal Jalan -V Kumara Swamy

Demonetisation has not worked, no two views about it: Bimal Jalan -V Kumara Swamy

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published Published on Nov 22, 2018   modified Modified on Nov 22, 2018
-The Telegraph

Former RBI governor chats about economy, RBI-Centre standoff and his latest book

Even 15 years after quitting the Reserve Bank of India (RBI), former governor Bimal Jalan lapses into RBI-speak whenever he doesn’t want to say much on an issue.

We are in Jalan’s office on the sixth floor of an apartment block, a few hundred metres from the Delhi headquarters of the RBI. At the very outset, he tells me not to ask him anything regarding the RBI, and so saying, he breaks into a mild smile.

Should I read between the lines? I eventually decide to, and ask anyway. How can I avoid that at a time when so much is being reported on the differences between the RBI and the Narendra Modi government.

In his latest book, India Ahead, 2025 and Beyond, which was released recently, Jalan lays out a slew of measures a “strong” government can implement with the aim of accelerating India’s growth. He suggests political reforms, lateral entry of professionals, mainly those from the private sector, in government organisations, and restructuring of public sector under-takings without loss of income for current employees.

Isn’t the book a bit late in the day given that the current government is at the fag end of its term? Jalan does not think so. He says, “A number of political and economic reforms can be initiated; they can be implemented later.” Then adds, “This view is not based on party politics. It is mainly about what the government can do to make the economic and political policies more effective, and also (how it can) look at the administrative system to make it more efficient.”

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The Telegraph, 18 November, 2018, https://www.telegraphindia.com/culture/people/on-money-decisions-government-is-the-boss-says-ex-rbi-chief-bimal-jalan/cid/1675619?fbclid=IwAR3tgVpfZmRY55Nm2Mi7qaOiawt


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