The Reserve Bank of India (RBI) Governor has the knack of surprising the markets each time he takes a credit policy review. This time around too, while announcing the third quarter review on January 28, he has surprised everyone by hiking the key policy repo rate by 25 bps when the market was expecting a status quo. RBI is of the view that inflation level is still high and needs moderation for a sustained growth but the heartening aspect is that inflation is showing signs of moderation and the current measure is expected to aid the process, further. As a consequence, however, economic growth is expected to take a hit in the near term but in the medium to long term we might see recovery on the cards for an ideal situation of low inflation and high growth.
Srinivasan Umashankar Nagpur
An occupancy, forfeit
Times have changed. Days of adda politics at kerb side tea stalls are over. Today the visual media rules ones mind and perception. The Delhi dharna continues to rail many a neta past their thespian best. There was a plethora of causes close to the hearts of an average Indian that the monitor of Opposition, the BJP, could have put to telling emotive use and yet it chose to be vociferous from TV studios. For sure, the image of Arvind Kejriwal curled up on Lutyens street on a terribly wintry night, scored a more enduring and deeper impression. The latest opinion poll only bears this out. Polished linguistics or shrill rhetoric alone do not suffice. The emotional connect is extremely important and the AAP supremo appears to have as mastered the art to near perfection. Modi cashing in on the tea vendor image or Rahul having a frugal meal with a dalit family can never be as durable as the picture of a scarfed and razai-clad aam aadmi in front of Rail Bhavan. It is sad these political biggies now carp on the AAP usurping a mere six feet of road space for a night, to far greater effect than riotous marches over entire streets, that end up showing more of muscle and less of an inner conviction that could hold a commoner's imagination, hostage.
Janaki Narayanan, Ghaziabad