It would take extreme effort for Raghuram Rajan to do a worse job of ensuring economic growth than his immediate predecessor Duvvuri Subbarao, who will leave behind a banking and industrial wasteland by the time his extended term concludes in a few weeks' time. Given that he has been a loyal chela of the economic adviser to the Prime Minister, C. Rangarajan, it would be understandable if he were to expect to be given the Padma Vibhushan at the next investiture ceremony. Odder choices have been known to occur, no doubt inspired by the Nobel Peace Prize awarded to Henry Kissinger or the European Union. More apt than simply a national award would be the gifting of a ministerial-level commission chairmanship to Subbarao................
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