The one big argument most of my family #Modifans and #Bhakts advanced ever since 2014 was that the system was rotten to the core under UPA-2 and that Mr Clean, #56inches would sweep things up and introduce #RealReforms.
When #LalitModi/#VijayMallya/#NiravModi/#MehulChoksi fled with vast sums missing, the banking mess was blamed on UPA-2 excesss, the clean up a)would bring out more dirt; b)take a bit longer - that was the story. When #RaghuramRajan quit, he was held to blame for part of the mess.
Urjit Patel was made @RBI governor and #ViralAcharya was brought in from US academia as Dy Gov. One after the other, these 2 economists also saw that ModiSarkar was all bluster and bluff, all spin and little substance, they too walked. Now, they have spilled the beans.
@economist briefly reviews books written by each of the latest big names to quit @RBI. economist.com/finance-and-ec…
First, @TheEconomist's brief acct of Urjit Patel's book:
Next, Viral Acharya's book:
The 2 books are:
Urjit Patel: "Overdraft, Saving the Indian Saver"
Viral Acharya: "Quest for Restoring Financial Stability in India" Now you know why the slide started long before #CoronaVirus
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