From: Sanjeev Nayyar
Once again Reserve Bank of India (RBI) governor Raghuram Rajan has spoken his mind on issues that former governors have rarely spoken about. Had this speech been made a year ago, the pearls of spoken wisdom might not have got intertwined with the prevalent political discourse of the day.
At the outset, I must state that whenever IITians are spoken about, a question that I wish someone of Dr Rajan's intellect answers: why is it that many IITians end up selling soap, detergents and being in the financial services business? Would it have been better for India if these seats were given to students who wanted to pursue a career in science and engineering?
The constituent assembly debates are enlightening. Why have the quality of debates in India suffered especially in the last 30 years? I wish to provide some answers and refer freely to key points made by Dr Rajan:
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