The Financial Express -- Expressions

This page contains Editorial and Op-Ed articles

Thursday, December 11 1997

Letters to the Editor

Reserve Bank beating a hasty retreat

The immediate gain in the exchange value of rupee should not divert our attention from the long term fall out of Reserve Bank of India's (RBI) latest stance.

RBI's last two credit policies -- announced in April and October'97 -- put some life into the monetary reforms.

Beyond arithmetic

If the fiscal scenario of the central government is disturbing, the reasons are not far to seek. But, instead of blaming it on either the ineffective administrative machinery or the various constraints to fiscal management, an effort should be made to work out a system that would promote efficiency allround.

Stability in economic policy-making

It is tempting for economic commentators to dabble in the on-going political debate. This diversion can be justified in the light of the uncertainty over economic policy making arising out of the prevailing political fluidity. The former Reserve Bank governor C Rangarajan has referred to the unfinished business in respect of financial sector reforms, but such business is considerable in respect of the nation.

Beyond arithmetic

Micro-credit works

Reserve Bank beating a hasty retreat

Stability in economic policy-making

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