He will be as important this year as he was in 2011. Will he reduce interest rates gradually or quickly? What will he do if the eurozone implodes, and among other things, puts the rupee under tremendous pressure? These are questions of huge national economic importance and the man the government gave a two-year extension in 2011, and who is thought to have come into his own after a hesitant period of apprenticeship, will perhaps be judged most by what he does this year. If 2012 goes well for him, he might even retire as famous as his predecessor, YV Reddy.
ET
