Both Dr Singh and Dr Rangarajan knew that a half-hearted move would make matters worse. Global financial markets and the IMF expected more. Dr Singh pretended to get in touch with the Deputy Governor in Mumbai and claimed he was unable to get him. Mercifully, those were not the days of cell phones and SMS. Good old MTNL could be depended upon not to put a call through! A night of failed communication between North Block and Mint Road enabled the “jump” after the intervening “skip”.......
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