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Imported horsemen: In Acharya, last one also departs; is India the loser?

Amid several macroeconomic challenges today, the government might have benefited from 'Harvard' economists' advice, but, judging by past record, it might not have paid them much heed, writes T N Ninan

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T N Ninan
And so the fourth and final horseman is heading back across the Atlantic. Viral Acharya will soon follow in the retraced footsteps of Arvind Subramanian, Raghuram Rajan and Arvind Panagariya. Media comment projects the country as the loser, but no one is alarmist in the way some were when Dr Rajan headed back to Chicago. Nor does current comment reflect the extreme fears raised by Dr Acharya in his famous speech about central bank independence. But then, neither do too many people reflect the view reportedly expressed by Arun Jaitley as finance minister, that one of the mistakes the Modi
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First Published: Jun 28 2019 | 8:11 PM IST

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