With reference to "Promise of continuity" (August 22), what is important to look at is the continuation of Raghuram Rajan's monetary policy right from the matter of controlling inflation to maintaining a stable and decent value of the rupee, especially in a highly complex and uncertain environment. The appointment of Rajan's widely perceived and trusted lieutenant, Urjit Patel, should not entirely come as a surprise as his name was already doing the rounds and he was tipped to become the next Reserve Bank of India governor. One can certainly look forward to a consistency in the policy decisions and wish him good luck for his future endeavour. On other hand, the government, which has now put to rest all such speculations and is keen to prop up the growth rate, can also heave a sigh of relief as Patel has been around with Rajan for quite some time with deep understanding of the ground realities and the state of the Indian economy.
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Srinivasan Umashankar Nagpur
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number