Rangarajan’s declaration of Stagflation Is Red Flag

For a policy-maker to declare that `stagflation’ is crippling economic performance is like a doctor telling relatives that the patient in the intensive care unit `may die’ instead of the clichéd `stable but critical.’ Neither of them does. But C. Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council, and a former governor of the Reserve Bank of India just violated that and in the process highlighted how vulnerable the Indian economy is..........

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