Chakravarthi Rangarajan on Monetary Policy After Liberalization
Ideas of India
00:00
The Problem of Fiscal Dominance in the Future of the RBI
I am worried that having all these new reforms which effectively tie the hands of the government more and more there is going to be a tendency to stack the monetary policy committee with members favorable to the government. There's going to be some indirect way to do this because there isn't a genuine agreement or intellectual agreement that spending must be dramatically curtailed, he says. But leaving out that we have had two committees set up since that an act was made,. I don't think that your fear is in any way a scene in the composition of the these committees on these two occasions.
Transcript
Play full episode
