The new RBI governor will have a three-year term in his new office.
Shaktikanta Das has been appointed as the new governor of the Reserve Bank of India. Unlike his predecessor, Das does not shy away from expressing his opinion on relevant economic issues. The new RBI governor is quite active on Twitter and has spoke about ongoing issues ranging from global trade war worries to India's macro economic data among many others.
Shaktikanta Das will be the first bureaucrat to head the central bank in almost five years.
While it was widely expected that the government will name an interim RBI head during its search for Patel's replacement, the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi chose Shaktikanta Das within a day.
Das will have a three-year term, an official order said.
Das, a 1980-batch Tamil Nadu cadre IAS officer, who retired as Economic Affairs Secretary in May 2017, oversaw the re-monetisation of the economy after the shock decision to withdraw 86 per cent of the currency in circulation in November 2016.
Now let us tell you his 5 tweets that will give an insight of his opinion on relevant issues. (Images: Twitter account of Shaktikanta Das)
1. 1. Macro economic data
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"India’s macro economic numbers are its biggest insurance against global uncertainties. These numbers need to be further strengthened. Deficit and debt targets should continue to be main focus", he tweeted.
2. 2. Ease of doing business
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"Ease of doing business extremely relevant for private investment,growth and job creation.Pipeline measures will aid this process further."
3. 3. Insolvency and Bankruptcy Code(IBC)
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"Good to see resolution of companies/bank loans through Insolvency and Bankruptcy Code(IBC). IBC marks a paradigm shift in our banking sector. Will ensure greater transparency and accountability. Was part of its drafting,enactment and implementation. Feel satisfied.(sic)"
4. 4. On a successful 1 year of GST rollout
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"GST completes one year. Stabilisation of a huge tax reform in record time. Other countries took longer. Reduction in GST rates for many items in the 1st year is unique. Robust growth in revenue collections in coming years will make a case for further rationalisation of tax rates."
5. 5. On worries of possiblity of global trade war
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"Tariff skirmishes between large economies are a matter of concern for global growth. These countries need to analyse whether it really benefits their domestic economy. Such trade issues need to be resolved through mutual engagement."
