India Meddling With Its Central Bank

The RBI’s Monetary Policy Committee was forced to delay their interest rate and monetary policy announcement due to the government dragging their feet before finally selecting its new members (1). India’s Prime Minister has made known his desire to gain greater influence, and has repeatedly exchanged one RBI governor for another, looking to find one willing to perform his monetary bidding. The delay comes at the worst possible time; injecting fresh uncertainty that adversely impacts an economy already toying with recession and bringing India to the brink of “junk” status (2).

 

References

  1. India’s Central Bank to Resume Rate Meeting With New Panel

  2. Modi’s Economic Failings Dim India’s $5 Trillion Dream

Related Posts

See All

Hungry people are the most productive people, especially where there is a need for manual labour. For those of us at the high end of the...