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Fiscal mismanagement is the root cause of India's economic issues, says Viral Acharya

Fiscal mismanagement is the root cause of India's economic issues, says Viral Acharya
Fiscal mismanagement is the root cause of India's economic issues, says Viral Acharya

SynopsisAs a deputy governor at the Reserve Bank of India, Viral Acharya drove banking sector reforms, brought in systems to fix regulatory leakages and block escape routes used by unscrupulous corporates. Acharya quit months before his term was due to end, fighting for the regulator’s autonomy.

In an interview coinciding with the release of his book, 'Quest for Restoring Financial Stability in India', he tells ET’s MC Govardhana Rangan what led to the exit of two celebrated economists from the central bank, among other things. Edited excerpts:You came to RBI in your quest for financial stability in India? How much was achieved? Where are we now?On monetary policy, we have moved forward in a significant way. We have established an
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