Right to Education law will shape future of India and we will see its affect in next 25 years. Well! you will get criticizers for everything in India. These criticizers have little idea what they are saying and they are self proclaimed God.
I will tell you why? Mr. Subir Gokaran (before joining RBI) used to write article in Business Standard every Monday where he used to criticize central bank now and then. I was reading his interview after joining RBI as deputy governor and he clearly said,"I am amazed by the way data is analyzed before reaching any decision."
I am surprised by the fact that nobody asked for this fundamental right. It has been done on the behest of a forward looking lawyer-turned-education minister and economist-turned-prime minister. When India sits next time to write history, these two men will occupy larger space than others.
Second One is change in interest calculation rules on saving accounts. I was surprised to know that my banker friends had no idea how interest is calculated on their saving account. I think this is the only reason why this method-of-interest-calculation survived since 1952.
Anyways, now banks will press RBI to reduce interest rate on saving account and I think this will pave the way for lower interest rate in India.
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