Retail inflation averaged scorching 10% in that period. Between March 2010 & October 2011, central bank raised repo rate 13 times, from 4.75% to 8.5% per annum.
In my view as the finance secretary during UPA II govt, the least RBI could have done was not to further depress the sentiment with doomsday prophecies.
In ‘Just A Mercenary?’, D Subbarao, looks back on a career spanning 35 years. From his time as an IAS officer to his roles as lead economist for the World Bank and RBI governor.
In his book, Duvvuri Subbarao discusses how he dealt with a sceptical press and unwelcoming colleagues when he was first appointed governor of the RBI.
The US and Israel’s assassinations of Iranian leadership ended up bestowing martyrdom on those killed. Shias saw the deaths as a continuity of martyrdom from the Battle of Karbala.
India’s fast-growing data centre sector may strain state electricity networks; Central Electricity Authority has urged Maharashtra, Andhra Pradesh, Telangana and Tamil Nadu to boost capacity.
Theaterisation, which aims to divide the forces into three theatres with specific areas of responsibility, will become the single most far-reaching reform that the Indian military has witnessed since independence.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
Voters should be reminded about double digit inflation during UPA regime. Reckless socialism masterminded by the crooks of national advisory council was one the reasons for overheating of the economy. Members of the NAC should be named and shamed and handed over to Taliban.
Voters should be reminded about double digit inflation during UPA regime. Reckless socialism masterminded by the crooks of national advisory council was one the reasons for overheating of the economy. Members of the NAC should be named and shamed and handed over to Taliban.