....As it turns out, Subbarao, whose KRA is controlling prices, doesn’t know what he doesn’t know about inflation. Then, maybe his boss does? Well, our finance ministry isn’t any wiser on this score. A committee of economists and statisticians has tried to capture prices in over half the economy that escapes our wholesale and retail inflation indices, but it’s diabolically difficult to keep an eye out for every time someone somewhere calls the plumber to fix a leaky tap......
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