The importance of being Basu

…..Basu in that sense was a greenhorn in the government system, having had no experience other than in academia. Even when he was in the World Bank for a short stint, he was given an academic designation of a visiting professor. So the Indian government indeed went out of its way to appoint him as its chief economic advisor. At around the same time, the government opted for another non-government economist to be the deputy governor of the Reserve Bank of India (RBI). That was Subir Gokarn, who until then had experience of only working in academia, a think tank and a global rating agency, but not in the government. Gokarn’s appointment, too, was unusual………….. 

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