RBI is not truly, truly independent: PM adviser Bibek Debroy
The RBI isn't "truly, truly independent" as monetary policy can't be completely delinked from fiscal policy, PM's Economic Advisory Council head Bibek Debroy said. He cited ex-RBI Governor YV Reddy's comment that RBI is independent but within the limits set by the government. RBI Deputy Governor Viral Acharya recently said undermining central bank independence could be "potentially catastrophic".