........I am saying irrespective of that, the markets are going to go up. If this had not happened, the market would still be up because the macro numbers for India have bottomed out. The real problem for India, I have said this many times, is Subbarao. If we fix the mindset of his, you fix a large part of the problem. I do not know whether it is fixable or not. He has now said that in January we will see some action on the rate front, which I find a little bit strange. After all, why would you want to broadcast that out to the world well ahead of the actual event?
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On October 31, speaking to media, to a specific question, whether there will be a rate cut in the next review, Dr Subbarao had responded that if he was sure about it, he would have done it then(On October 30). It is not clear how this is interpreted by Shankar Sharma as an indication about what RBI Governor will do in January needing a 'fixing'.
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