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This is an archive article published on May 9, 2009
No difference with govt on big issues: Subbarao
Reserve Bank of India governor D Subbarao on Friday said there were no differences with the government on big issues.
Written by ENS Economic Bureau
Mumbai | May 9, 2009 11:42 PM IST
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Reserve Bank of India governor D Subbarao on Friday said there were no differences with the government on big issues.
Referring to the occasional difference in opinion with the government on matters of policy,Subbarao said that having different opinions add to the collective wisdom and it was a positive sign. It will be problematic if we do not have any difference in views,however,I must say that on big issues today there is no difference between the government and the RBI, he said while releasing former RBI governor YV Reddys book India and the global financial crisis: Managing money and finance.
However,there were moments when Subbarao hinted at the different scenarios in which the former governor worked and the situation in which he has to presently operate.
In his opening remarks,he wittily said,Being governor is a lot of fun and is very easy. I believe you all think it is a complex job8230; perish the thought. There are some people partial to Dr Reddy and who say that I am undoing everything that he did.
Parodying a famous quote from Saint Augustines Confessions,Subbarao said he wished he was like Reddy: God make me like Dr Reddy but not yet as I have business to do and cut interest rates.
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