Rajan says ranking of RBI governor should be raised Where’s the blood? Shortfall in India is 35 tanker-trucks IN THE RED Law admissions delayed, but MU starts lectures to make up for delay
1.1 mn 9%
The Reserve Bank of India (RBI) must be strong and independent to say no to the highest echelons of the government, governor Raghuram Rajan said on Saturday in his last public speech before ending his tenure as the central bank head.
He also pitched for elevating the rank of the RBI governor saying it should be commensurate with the position as the most important technocrat in charge of economic policies of the country. Rajan, who had repeated face-offs with the political establishment for ignoring calls to cut interest rates, has said he will return to academia after leading the country’s top bank through wide-ranging reforms including a landmark switch to inflation-targeting.
Though his tenure ends on Sunday he is likely to hand over charge to his successor, deputy governor Urijit Patel, on Tuesday.
“The central bank should be independent and should be able to say no to seemingly attractive proposals,” he said delivering a lecture on ‘Independence of the central bank’ at the St. Stephens College here. “The Reserve Bank cannot just exist, its ability to say “no” has to be protected...” said the outspoken economist whose tenure was marked by controversies triggered by comments on intolerance debate to the government’s flagship programme ‘Make in India’.
India is 35 tanker-trucks short of the blood it requires for medical procedures, yet some areas of the country wasted blood because there was too much of it, according to an IndiaSpend analysis of government data.
The shortage was estimated at 1.1 million units — as blood is measured, with a unit being either 350 ml or 450 ml — in 2015-16, minister for health and family welfare JP Nadda told Lok Sabha in July. Assuming a standard tanker-truck holds 11,000 litre and a unit being 350 ml, the shortage equals 35 tanker-trucks. In percentage terms, India is 9%short of its needs — the shortage reducing from 17% in 2013-2014.
The 9% national shortfall hides local shortages and oversupply.
Bihar is 84% short of its blood requirements, more than any other state, followed by Chhattisgarh (66%) and Arunachal Pradesh (64%).
As uncertainty rises over when law colleges will begin classes, the University of Mumbai has asked students who have written the law common entrance test to attend lectures at the University National Law School (UNLS) to make up for the delay.
The admissions to law courses this year were first delayed by the common entrance test (CET), which the government conducted for the first time but were delayed after petitions questioning the legality of the examination were filed in courts. The admissions were then further deferred after the Bar Council of India found 64 law colleges in the state didn’t meet its norms.