MY COMMENTS ON BT COVER STORY

MY COMMENTS ON COVER STORY IN BUSINESS TODAY DTD 24TH NOV 2013


The cover story on RBI Chief Raghuram Rajan had quoted the following lines from a famous poem:
QUOTE


If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too:
If you can wait and not be tired by waiting,
Or being lied about, don’t deal in lies,
Or being hated don’t give way to hating,
And yet don’t look too good, nor talk too wise
(From “If”, a poem by Rudyard Kipling)


UNQUOTE


Here is the link to the cover story :

http://businesstoday.intoday.in/story/rbi-governor-raghuram-rajan-economy-policy-inflation/1/200148.html


The article had ended with the following lines:


QUOTE


Rajan would surely love to end his innings at the RBI with another Kipling poem, The Secret of The Machines>

“But remember, please,
the Law by which we live,
We are not built to comprehend a lie,
We can neither love nor pity nor forgive,
If you make a slip in handling us you die!


UNQUOTE


I had sent a letter to the editor of BT on the cover story. The latest issue of BT dated 8th Dec 2013, just out today, has published an edited version of my letter. Here is the link: 


http://businesstoday.intoday.in/story/business-today-reader-feedback-letters-to-editor-dec-8-issue/1/200652.html


Here are the contents of my letter:


If Only


Like the title of the Rudyard Kipling poem “If”, quoted by Raghuram Rajan in his maiden speech after taking charge as governor of the RBI (His Own Man, November 24), there are many ifs connected with his role as well. Rajan has the intelligence, the academic background, the skill sets and the grit to see the country out of its current morass, but only if he is given a free hand to tweak interest rates; if he is not targeted personally; if he gets the required support from his team mates; if he is allowed to complete his tenure of three years; if he is not blindly opposed every time he throws a new dice (such as allowing foreign banks to acquire local lenders); if he is not made a scapegoat for the follies of our political and economic system. Thus the Kipling poem which concludes the report is not really an apt analogy. Rajan is a man, not a machine.


- J.S. Broca, New Delhi


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