TCA Srinivasa Raghavan
Raghuram Rajan’s exit and the question of institutional independence
When the world is hurtling through economic crises and India stands relatively unhurt, the credit, in no small measure, goes to Raghuram Rajan
These are men and women whose dedication to the areas of their expertise is beyond dispute
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 sforzando of Raghuram Rajan’s music is his half a percentage point rate cut, a dramatic easing of credit that could be just the stimulus India’s economy needs
The widening rift between the Finance Ministry and the RBI takes a heavy toll on the economy
Whether Raghuram Rajan will hold sway over the proposed panel remains an open question. The smart money, though, is on his tipping the balance if it’s split down the middle
A new frenzy of hope grips Raisina Hill as growth gains momentum