The Union government has done well to give Reserve Bank of India (RBI) Governor Shaktikanta Das a three-year extension. This shows that the relationship between the central bank and the Union government has improved markedly over the past three years. Better coordination between the RBI and the government is critical for a country like India, particularly in times of crisis. Perhaps the vast experience of working in the government, including in the Ministry of Finance, helped Mr Das. Continuity in central bank leadership will be useful in the present circumstances. Mr Das has steered the RBI’s interventions to contain the

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