Govt-RBI relationship like of 'husband-wife', says former PM Manmohan Singh
New Delhi, Dec 18: Former prime minister Manmohan Singh Tuesday said the relationship between the government and the RBI is like that of "husband-wife" and the difference of opinions must be resolved in a manner that the two institutions work in harmony.
The comments came against the backdrop of Urjit Patel resigning as RBI Governor earlier this month amid a tussle between the central bank and the finance ministry on matters ranging from the appropriate size of reserves the central bank must hold to the easing of lending norms for sectors such as small and medium enterprises.
Talking to reporters on the sidelines of the launch of his six-volume series of books titled 'Changing India' here, Singh, who is also a former RBI governor, said one has to respect the autonomy and the independence of the Reserve Bank of India (RBI).
"At the same time, I would say the relation between government and RBI is like husband-wife relationship. There will be hiccups, there will be difference of opinion, but ultimately these must be harmonised in a manner that these two great institutions can work in harmony," Singh said.
Following the resignation of Patel, the government appointed former Economic Affairs Secretary Shaktikanta Das, who spearheaded normalisation of economy post demonetisation of November 2016, as new RBI Governor.
"Whosoever is Governor of RBI, I wish him well," Singh said.
The former PM and Rajya Sabha member further said "we need" a strong and independent RBI which has to work in close cooperation with the central government.
"I do hope and pray that the government and the RBI find a way to work together," he added.
On questions related to farm loan waivers announced by the new governments in Madhya Pradesh and Chhattisgarh, Singh said "we have to honour" the commitment that is part of the election manifesto which went to poll.
"I haven't studied the impact but since the commitment has been made so we have to honour it," he said and added the loan waiver was a commitment made to people of the two states and what has been promised has to be delivered.
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Gehlot changes profile pic to 'Save Aravalli', asks Centre to reconsider definition
Jaipur (PTI): Congress leader Ashok Gehlot on Thursday urged the Centre to reconsider its definition of the Aravallis, warning that any damage to the mountain range posed a serious threat to the ecological future of north India.
Gehlot, a former Rajasthan chief minister, changed his social media profile picture in support of the nationwide 'SaveAravalli' campaign amid growing debate over mining and environmental safeguards in the Aravalli Range.
It was his symbolic protest against the new interpretation under which hills lower than 100 metres are no longer being recognised as part of the Aravalli system, he said.
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"The Aravalli cannot be judged by tape measures or height alone. It must be assessed by its ecological importance," Gehlot said, adding that the revised definition raised "a big question" over the future of north India.
Appealing to the Centre and the Supreme Court, Gehlot said the issue must be reconsidered in the interest of future generations and environmental security. He also urged citizens to participate in the campaign by changing their display pictures online to draw attention to the issue.
He said the Aravalli range functioned as a natural green wall against the expansion of the Thar desert and extreme heatwaves, protecting Delhi, Haryana and western Uttar Pradesh. Opening up smaller hills and so-called gap areas for mining would allow desertification to advance rapidly, he warned.
Gehlot also flagged concerns over air pollution, saying the hills and forests of the Aravallis acted as the "lungs" of the National Capital Region by checking dust storms and absorbing pollutants.
"When pollution levels are so alarming even with the Aravalli standing, one can imagine how disastrous the situation will be without it," he said.
Highlighting the water crisis, the former chief minister said the rocky terrain of the Aravallis played a crucial role in groundwater recharge by channelising rainwater underground.
"If the hills are destroyed, drinking water shortages will intensify, wildlife will disappear and the entire ecology will be pushed into danger," he said.
Gehlot argued that, from a scientific perspective, the Aravallis was a continuous chain and that even smaller hillocks were as vital as higher peaks.
