RBI Governor Urjit Patel resigns... Now what??

RBI Governor Urjit Patel resigns... Now what??

तख्त की परवाह बादशाह से ज्यादा वजीर को होती है। यहाँ रुई का कांटा डेप्युटी गव्हर्नर आचार्य है। लेकीन वार्ता यह है की वे भी इस्तीफा दे रहे है।

       I am strongly sensing a deep routed conspiracy. It all started with a speech by Viral Acharya, where he spoke that if autonomy of the RBI is threatened by government, markets have to face consequences. RBI officials have been putting their discontent publicly, but this language by Acharya is like threatening the government. Were All the other things, such as rumours about government imposing section 7 of the RBI act, asking RBI to transfer surplus funds were a gimmicks by government to show RBI in general and especially Acharya in particular their place.? Subsequent RBI board meeting concluded with middle path. Resolutions and decisions that seemed to be good.

     Another thing, Arvind Subramanian. He is on his tour of making statements against decisions taken by Central Government, Finance Ministry of which he was part. At the same time Uday Kotak, is speaking about poor implementation of currency change (demonitisaion) exercise.

      Seems like Finance Minister and Prime Minister were ready for such situation. They immediately tweeted, appreciating Urjit Patel's service to the country and wishing him all the best. The situation is very serious and difficult to understand, decipher the real reasons behind it. Don't need to jump on conclusions of being economy is in danger. No single person will be responsible for prosperity or downfall of the economy. It's a collective effort. When Raghuram Rajan was not given a second term as Governor the narrative was created as if central government is committing a huge crime and economy is going to collapse. There are plenty of other economists who are as much capable as Rajan, Patel or Acharya are.

      One thing is clear, a foreign is there in this entire episode. Someone or many don't want India to be a global player. Considering the current situations of prospective trade war, Brexit etc.
May be I am exaggerating the things, thinking unnecessarily in this way. But when it comes National, International levels everything can happen. There are plenty of examples in the World and in India. It's my thought. You may and you can criticise, discard this line of thought. But this is what I think...