This Wall Street Journal article quotes Resident Senior Fellow Vivek Dehejia. Excerpts:

"As India heads into elections, central-bank technocrats worry that the government may dip into the RBI’s rupee reserves—a rainy-day fund used to shore up public finances—to open the spigots of government largess to voters. If that happens, “we’ll have become a true banana republic,” says Vivek Dehejia, an economist at Mumbai’s IDFC Institute. “What kind of central bank governor would go along with this?”

Read the full article here.