Urjit Patel is the first macroeconomist to take charge of RBI in over a decade. While there is no crisis, he faces challenges of a different kind
They don't think we can achieve price stability. But they said the same of self rule
Beyond the magic figure of 7.6 lies the bigger challenge for the Modi Government
The conjuror of this illusion, of course, is what we call ‘inflation’. And while American policymakers have managed to quell it, in India it still moves in mysterious ways
The widening rift between the Finance Ministry and the RBI takes a heavy toll on the economy
Given how globalised India has got since the rupee was freed to float, turbulence was only to be expected. But it may not be such a bad idea to nudge the currency along a bit
Rajan believes that it is too early to be complacent about inflation. For him, it is too risky to cut rates now. The reality is that Rajan isn’t likely to get a more benign scenario for a rate cut