Advice and Dissent
My Life in Public Service
(Hardcover)

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Any governor of the Reserve Bank of India must walk a tightrope. He must seem to be independent - but without offending the government of the day. He is not equal to the government but must convince others that he is not subordinate to it either. And if he can do all this with the right policies in place, he may leave behind a career as illustrious as that of Dr Y.V. Reddy, Governor of the RBI from 2003 to 2008, a time of high growth, low inflation, an appreciated rupee and a robust banking system that withstood the global financial crisis. Advice and Dissent throws light on the lessons of Dr Reddy's fascinating professional life, as on the politics of his years in public service. About the Author Dr Y. V. Reddy is a former IAS officer of the 1964 batch who served as the Governor of the Reserve Bank of India from 2003 to 2008. He was awarded the Padma Vibhushan in 2010.

A journalist once asked Y.V. Reddy, 'Governor, how independent is the RBI?' 'I am very independent,' Reddy replied. 'The RBI has full autonomy. I have the permission of my finance minister to tell you that.' Reddy may have put it lightly but it is a theme he deals with at length in Advice and Dissent. Spanning a long career in public service which began with his joining the IAS in 1964, he writes about decision making at several levels. In his dealings, he was firm, unafraid to speak his mind, but avoided open discord. In a book that appeals to the lay reader and the finance specialist alike, Reddy gives an account of the debate and thinking behind some landmark events, and some remarkable initiatives of his own, whose benefits reached the man on the street. Reading between the lines, one recognizes controversies on key policy decisions which reverberate even now. This book provides a ringside view of the licence permit raj, drought, bonded labour, draconian forex controls, the balance of payments crisis, liberalisation, high finance, and the emergence of India as a key player in the global economy. He also shares his experience of working closely with some of the architects of India's economic change: Manmohan Singh, Bimal Jalan, C. Rangarajan, Yashwant Sinha, Jaswant Singh and P. Chidambaram. He also worked closely with extraordinary leaders like N.T. Rama Rao, as described in a memorable chapter. As governor of the RBI from 2003 to 2008 he presided over a period of high growth, low inflation, a stable rupee and ample foreign exchange reserves - a far cry from the 1991 crisis he lived through and describes in vivid detail, when the country had to mortgage its gold to meet its debt obligations. He is credited with saving the Indian banking system from the sub-prime and liquidity crisis of 2008 that erupted shortly after his term at RBI ended. Dr Reddy provides insight into post-crisis reflection undertaken by several global institutions on the international monetary system and financial architecture. In addition, he describes the development of the Fourteenth Finance Commission report, which he chaired, and is considered a game changer. Leavened with his irrepressible sense of humour, Advice and Dissent is a warm, engaging account of a life that moves easily from his career in the districts as a young IAS officer to the higher echelons of policy making, in a trajectory that follows change in the country itself.

AuthorReddy Y.V.
BindingHardcover
EAN9789352643004
Edition1
ISBN9352643003
Height920 mm
Length630 mm
Width160 mm
LanguageEnglish
Language TypePublished
Number Of Pages496
Package Quantity97
Product GroupBook
Publication Date2017-07-04
PublisherHarperBusiness
Release Date2017-07-04
StudioHarperBusiness
Sales Rank2186

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      General information about Advice and Dissent: My Life in Public Service
      • The author associated with Advice and Dissent: My Life in Public Service is Reddy Y.V..
      • The EAN for Advice and Dissent: My Life in Public Service is 9789352643004.
      • The edition for Advice and Dissent: My Life in Public Service is 1.
      • The ISBN for Advice and Dissent: My Life in Public Service is 9352643003.
      • The height for Advice and Dissent: My Life in Public Service is 920 mm.
      • The length for Advice and Dissent: My Life in Public Service is 630 mm.
      • The width for Advice and Dissent: My Life in Public Service is 160 mm.
      • The language for Advice and Dissent: My Life in Public Service is English.
      • The binding of Advice and Dissent: My Life in Public Service is Hardcover.
      • The number of pages for Advice and Dissent: My Life in Public Service are 496.
      • The quantity for Advice and Dissent: My Life in Public Service in a package is 97.
      • Advice and Dissent: My Life in Public Service is grouped in Book group of products.
      • The publication date for Advice and Dissent: My Life in Public Service is 2017-07-04.
      • The publisher for Advice and Dissent: My Life in Public Service is HarperBusiness.
      • The release date for Advice and Dissent: My Life in Public Service is 2017-07-04.
      • The producer for Advice and Dissent: My Life in Public Service is HarperBusiness.
      • The sales rank for Advice and Dissent: My Life in Public Service is 2186.
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