Reserve Bank of India Governor, Raghuram Rajan, who was touted as the next "big" thing for the Indian economy, has come in for scathing criticism for failing to tame inflation after taking charge in September. Inflation in the consumer price index rose to 11.24% in November primarily because of a 14.5% rise in food and vegetable prices. "The RBI must realise that in the changed scenario where the various government schemes have raised the purchasing power of rural India, CPI and food inflation are not going to be tamed by making loans costlier...........
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