path that china followed i dont think such a specific focus is intended then comes the reference to hitler during whose rule everything functioned efficiently but he still led germany to ruin for those keen to project modi as a dictator it was grist to the mill but the message was the opposite which was that indias administration was weak we will have to strengthen government and regulatory capability resisting the temptation to implant layers and layers of checks and balances even before capacity has taken root rajan said if one wants to see his acknowledgement of modi moving in a different direction it was this the political dialogue has also moved from giving handouts to creating jobs in fact his socalled view on intolerance is a lesson for modi on why the pm should ignore it when there is a tendency to make a mountain out of a molehill tolerance can take the offence out of the debate and indeed instill respect if i go berserk every time a particular button is pressed rebels are tempted to press the button while mischiefmakers indeed do so but if i do not react predictably and instead ask button pressers to explain their concerns rebels are forced to do the hard work of marshalling arguments so rebels do not press the button frivolously while the thuggish mischief makers who abound in every group are left without an easy trigger what does rajan make of the debate and discussions about his words and deeds the press is worried about this relationship i hate to say the press is a little bit like a narad muni carrying tales from one side to another and creating apparent tension where none exists rajan told et sometimes it seems to us that somebody is trying to put some mirchmasala into a boring relationshipon the same page is it all hunkydory between rajan and modi once in two months i meet raghuram he comes with three or four slides and he makes me understand the issues so perfectly that he may be the best teacher too modi had said this means the government and the rbi are on the same wavelength and that is why it is possible it is no secret that there are enough narad munis loitering the corridors of power but a few events cement the belief that the equation between the two may be better than what is perceived when inflation targeting as proposed by rajan was not acceptable to an administration which appointed him as governor modi accepted it without much fuss the proposal to shift regulation of money market to the sebi from the rbi was scrapped after the rbi made a case against it moving public debt management away from the rbi was also dropped when it questioned the skill availability at the government to perform that function and last but not the least the monetary policy committee the government junked the suggestions in the financial code and went for the