RBI governors don't need an MPC but a helpful finance minister

This morning I read in this newspaper that a new monetary policy committee is about to be formed. Pami Dua, Chetan Ghate and Ravindra Dholakia are completing their terms at the end of this month and the current committee has breathed its last.  The story also said that sundry economists, when asked about the committee’s performance, recalled their own school days.  “Could have done better”, they all said.  The correspondent didn’t ask them what ‘better’ meant in this context. Also, had I been in this young reporter’s pl.....

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