Wisdom arises out of disagreement,says Subbarao

8220;There are disagreements within the government,there are disagreements between the government and regulators and the public policy institutions. In fact,I would worry if there is complete agreement,8221; he said.

As a way forward,Subbarao said the two need to devise mechanisms which could help to work through the obvious differences.

8220;Wisdom arises out of disagreement,but what we need is a mechanism for distilling wisdom out of this disagreement,8221; said the RBI governor.

Reading an excerpt from the book 8220;Of Economics,Policy and Development: An Intellectual Journey of IG Patel,8221; Subbarao also spoke on the likely fallouts of stand-offs in case of disagreements.

8220;Don8217;t knit-pick,pick your battles and once you pick your battle,fight it valiantly,8221; he said,summarising the policy of the late Patel.

In case of a likely stand-off,the 8220;ultimate defence8221; for the RBI governor to justify his actions 8220;is democracy and the tradition of free debate,8221; Subbarao said.

The book is edited by former RBI governor YV Reddy and ex-research director at the central bank Deena Khatkhate.