Archive for August 30th, 2013

Economic deceleration on expected lines: Planning Commission

August 30, 2013

I am away from Newswires for a while now and it is a relief.

Otherwise, how does one expect to react reading such statements from PlanCom chief Mr. Montek S. Ahluwalia. He reacted to the recent reading of GDP growth at 4.4%. It is lower than the shock India got in Q3 2008-09 during Lehman crisis.

So Montek says:

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Thank God Reserve Bank of India exists…

August 30, 2013

These are the words said by Dr Subbarao as part of his last speech as RBI Governor.

He says:

There has been a lot of media coverage on policy differences between the government and the Reserve Bank. Gerard Schroeder, the former German Chancellor, once said, “I am often frustrated by the the Bundesbank. But thank God, it exists.” I do hope Finance Minister Chidambaram will one day say, “I am often frustrated by the Reserve Bank, so frustrated that I want to go for a walk, even if I have to walk alone. But thank God, the Reserve Bank exists.”

:-). There is even a better quote on Bundesbank by Jacques Delors, one of the founders of Eurozone:

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