Restoring Trust in Governance: India’s 2020’s Challenge

Restoring Trust in Governance: India’s 2020’s Challenge is a companion volume to M G Warrier’s 2018 book India’s Decade of Reforms which looked at the initiatives taken by Government of India and RBI to restore the country’s economic health by an appropriate diagnosis of factors that stalled the 1990’s initiatives to introduce economic and financial sector reforms. GOI and RBI are taking forward reform initiatives to revamp the institutional system in the financial sector by infusing transparency and professionalism in policy formulation and introducing structural alterations wherever necessary. This book focuses on policy initiatives necessary to retrieve Indian Economy and the Indian Financial Sector from the present crisis-like situation. Areas covered in this book include agenda for the second Modi government at the centre (2019-24), pros and cons of privatizing public sector, approach towards gold management. Reserve Bank of India’s role in confidence boosting viewed in the context of monetary policy implementation since the setting up of Monetary Policy Committee (MPC), some aspects of macroeconomic policy challenges before the Reserve Bank of India, need for a strong central bank, conflicts in formulation and implementation of monetary and fiscal policies. Finally, in a separate Section, namely ‘Professionalizing Financial System’ we look at measures being taken to professionalize and strengthen the Financial Sector with focus on regulation and supervision of the banking system.