An open letter to the RBI Governor: On growth, inflation, rupee challenges

You have come at a time when the growth-inflation dynamics is changing and the rupee is under pressure

Dear Mr Malhotra,

 

Congratulations. Welcome to the helm of the central bank of the world’s fifth-largest economy.

 

You didn’t throw your hat in the ring. Your predecessor at the Reserve Bank of India, Shaktikanta Das, would probably have felt the same way Bimal Jalan had felt about the choice of YV Reddy as his successor – a signal of continuity and change. Continuity, since Reddy had been a deputy governor; and change, because, as a governor, he would do new things.

 

In this case, continuity, since one revenue secretary has replaced another. And change, since you will explore new ideas.