RBI Governor cant manage inflation. It is a myth we all are living with. Even present Governor's sustained efforts are not yielding the results. This also proves solution lies somewhere else.
Role of Mr. Raghuram Rajan is to convey to the Govt that bottlenecks in the economy is the real problem for inflation , resultant erosion of rupee value , lower GDP and Current Account Deficit (CAD).
Hoping that RBI and its governor can do wonders with mere monetary policy is nothing but day dreaming and in-actin at all other levels.
In any company , CFO can create value upto an extent but even CFO can't do anything unless there is a efficient production system , product innovation at regular intervals, flawless logistics , sufficient profit margin which enables future investments without much of the unsustainable debt. If these aspects are managed by the CEO and the management , CFO can add some value by capital structuring , lower debt cost (this again depends on performance of the company not entirely in the hands of CFO ) , raising money from various sources , budgeting & allocation etc. However CFO cant act as a driver.
We are expecting RBI to drive our economy , manage inflation , manage rupee value and control CAD !!! All these are interlinked and only way to break the same is quick decisions , transparency and progressive policies at all level of the Govt. We need action on war footing but we are hardly taking any action, forget right action.
Indecisiveness and lack of imagination in Govt cant be substituted by ably qualified and young RBI Governor.