https://m.economictimes.com/news/economy/policy/govt-issues-statement-on-spat-with-the-rbi-says-will-continue-to-engage-in-consultation-in-public-interest/articleshow/66443056.cms
As ET reported last few days Govt. And RBI are not in good terms. After Raghuram Rajan was removed the new governor hasn't been very helpful for govt.
It's a fact that global interest rates are rising led by US. Govt. after disasterous Demonetization and a botched GST wants credit or loan growth to happen. But unfortunately time for that has run out.
Jaitley is right that RBI looked the other way after 2008 when rampant loan growth happened. But that was globally coordinated easing. I am sure BJP and Jaitley would have jumped into that if they were in Govt. then. Blaming RBI now is a bit opportunist.
The loser will always be the unprepared citizens.
But this fits nicely into the coming political chaos in 2019 as I had said earlier.
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