THE POSSIBILITY OF CHANGE OF GURAD AT RBI AND REVIEW OF THE INFLATION TARGETING FRAME-WORK CAN NOT BE RULED OUT

THE POSSIBILITY OF CHANGE OF GURAD AT RBI AND REVIEW OF THE INFLATION TARGETING FRAME-WORK CAN NOT BE RULED OUT


Dear Readers,

It is Well Understood that the Nation(of India) is not taking kindly, the state of Affairs being inflicted by RBI recklessly and without budging on the Head of the Nation in the name of the "Inflation Targeting Framework" which has been pursued by it with quite stubborn and illogical attitude. 

The pursuing of the "Inflation Targeting Framework" RBI is pursuing Blindly without realizing and looking at its repercussion on the Nation and the Economy, with a Highest Level of Interest Rate Regime (at Repo Rate of 6.5%) holding tightly and sitting there (since February 2023 nearly for 2-years) stubborn illogically, is already hurting the more than 80-Crore Common people who need Livelihood Borrowings for their Survival and the Commerce and Industry (at National level) in General. ...This has not given good signal to the Nation after the most recent MPC Meet of RBI, just concluded on 06-December-2024, two days back ( where in the Repo Rate of 6.5% have been maintained again as Status Quo). A repo rate cut as expected as an urgent measure to help the Economy come out of the trap it is in, has not happened in spite of the fact that 2-External MPC Members (nominated by Government India) out of the 3-External MPC Members in the 6-Membered MPC (where in 3-Members are Internal to RBI), have dissented again in favour of a Repo Rate Cut in the National Interest, it is clearly understood. 

Therefore as the Corollary out of the Circumstances and State of Affairs continuing before the Nation, if one looks at it with "NATION FIRST MOTTO" the following Possibilities can not be ruled out:

a)    The Possibility of Change of Guard at the Helm of Affairs of RBI can not be ruled out. ...Let us wait and see what happens after 2days only on 10-December-2024. 

b)    The "Inflation Targeting Frame Work" being pursued by RBI may be put to Appropriate Review which can not be Ruled Out. 

Let us see, what happens as I said on 10-December-2024, only after 2-days, the "Nation First Motto" definitely calls for the above two things to happen not to allow the Nation to be hurt more. This is my Firm Opinion as an Ordinary Citizen of India, a Prominent Professional of India and also an Intellectual by my Merit, I am saying without mincing words and without any ambiguity. I am saying this definitely in the National Interest of India. 

With Best regards,
Dr. Nimain Charan Biswal,
Mumbai, India 

 

About the Author: Dr. Nimain Charan Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications; and he has 38+ years of work experience in both industrial and development sectors in diversified fields of social importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). He is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in industrial sectors, management in agriculture and dairy, development management to management of public systems. He is a prominent professional of India and known Internationally as well. He is also a Political Strategist. He lives at Mumbai in India.


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