Actually, it is much more fundamental: the differences come from differing priorities between Delhi and Mint Street and not the objective—pushing for faster economic growth. The key takeaway, going by the forever animated exchanges on television channels, social media and skewed commentaries in newspapers, is clearly about friction, structural in nature and sometimes acrimonious, between North Block and Mint Street. While the run-ins with Rajan and Subbarao are in the spotlight, it was no different under Y.V. Keeping this in mind will help sift chaff from grain in an otherwise high decibel debate, which is already vitriolic. “In telling the inflation story to the prime minister, I would give him both the positive and negative sides of it.

Source: Mint July 17, 2016 19:41 UTC