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

M G Warrier

nov 2020 · Notion Press

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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.

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M G Warrier is a central banker who opted to voluntarily retire from service in 2003, when he was working as General Manager in Reserve Bank of India, Central Office, Mumbai. Post-retirement, he has been responding in the media and regularly writing articles in the mainstream print and electronic media. He has published two books (“Banking, Reforms & Corruption: Development Issues in 21st Century India” in 2014 and “India’s Decade of Reforms” in 2018) which covered issues relating to economic development, role of RBI in economic growth as well as social security concerns including pension system and gold management.