Thoughts - Meeting of Minds
Two days....Two personalities and loads of food.(for thought)..
Yesterday we had an interactive session with Mr. Y V Reddy, the former governor of Reserve Bank of India. It was during his tenure that the global recession started showing signs of existence and he has been involved with some of the measures taken for keeping its effects external to India.
A close door small group meeting with such a learned personality could be a thought in mind for many which is a fact for me. He expressed his views on the ramifications of separating a Central Bank of a country from state control. An extent of autonomy is desired but complete separations has shown its ill-effects. He also spoke of the concept of decoupling of economies is more a matter of convenience rather than reality. He believes that no economy today is truly decoupled although the extent of interdependence may vary. Decoupling, in his words, is "contextually convenient but logically irrelevant. " He also spoke of need for the government to modify its working and policies to attract young intellectual minds towards state jobs. Importance of govt. sector, which he differentiates from the public sector, has not been truly realized and he maintains that private sector has stakes in the govt. sector. He also touched upon the difference between general and financial literacy and need to increase the financial literacy in India. In a lighter vein he said, that lack of knowledge about financial crisis means that we have been relieved of it upto some extent.
In all these two talks opened up plethora of new dimensions of thinking of issues and provided completely novel perspectives to some of them. Looking forward to some more of such talks in coming days...