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.
Even in Indira Gandhi’s time there was so much disgust with the behaviour of Governors. Nothing came of it because every government always wants its own stooges in Raj Bhavans.
With MIRV, India can target different different locations or the same location with a time gap. This can include decoys to hoodwink the enemy’s defence systems.
These elections mark completion of BJP-secular party divide purely on Hindu-Muslim basis. BJP’s rivals are increasingly looking like Muslim parties though their leaders are all Hindus.
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