On 4th September 2013 the new Governor Raghuram Rajan joined RBI in place of outgoing Governor D Subbarao. I had conveyed my views on the topic to a few financial dailies like Financial Express, Business Standard and Economic Times.Here is one such letter to the Editor:
Dear Sir, This refers to your main headline: “Guv Rajan launches financial reforms 2.0 ” (FE 5th September 2013).
“Raghupati Raghav Raja Ram” (sometimes called ‘Ram Dhun’) is a popular bhajan (Hindu devotional song) that was a favourite of Mahatma Gandhi and was sung by Gandhi and his followers as they walked during the long 241 mile Salt March to Dandi.
Now the reigning deity of the season and the favourite chant of the common man is Raghuram G Rajan, the new RBI Governor, who is expected to lead the country from near oblivion towards the long march towards light at the end of depressing tunnel. He has a major trilemma before him: (a) stabilizing the falling rupee, (b) taming the demon of high inflation and (c) boosting economic growth.His academic background, scholarly credentials and past performance records have raised high hopes. Here is wishing him all the best and let us pray by re-iterating the last line of Gandhiji’s bhajan: “sab ko sanmati de bhagwan.” (Translation: Bless everyone with real wisdom! )- J S BROCA, NEW DELHI
Some of my letters are still to be published. My letter to ET is displayed on its web-page and can be seen via following link:
THE NEW RBI GOVERNOR
The latest issue of “Business Today” dated October 13th 2013 just out today ( 29TH September), contains an edited version of my letter to the magazine on the subject of Raghuram Rajan,as under:
Letters to the Editor
Rajan’s New Avatar
The feature on new RBI Governor Raghuram Rajan (Rockstar Successor, September 29) is very speculative. Let’s pray that Rajan really rocks and succeeds in his new avatar. The rockstar economist has generated a lot of optimism. It reminds me of Raghupati Raghav Raja Ram, a popular bhajan. Everyone now seems to be singing an updated version of the bhajan featuring Rajan.
J.S.Broca, New Delhi
29th Sept 2013
READ THE ORIGINAL ARTICLE “ROCKSTAR SUCCESSOR” BY GOING TO THE FOLLOWING LINK:http://businesstoday.intoday.in/story/d.-subbarao-retires-as-rbi-governor/1/198331.html
J S BROCA
SEPT 29TH 2013