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.
The standard advantage of a bad bank is the entity taking a decision on sale price is different from the entity accepting that price, former RBI governor D Subbarao said.
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.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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.