.............First, let us look at the common players in key policy-making positions then and now: Manmohan Singh, who was then the finance minister, is now the prime minister; P Chidambaram - commerce minister then and now the finance minister; C Rangarajan- deputy governor of the Reserve Bank of India (RBI) and a little later RBI governor then and now the chairman of the prime minister's economic advisory council and; Montek Singh Ahluwalia, who was then secretary in the commerce ministry and later in the finance ministry and is now the deputy chairman of the Planning Commission. Even Duvvuri Subbarao, at present the RBI governor, was a joint secretary in the finance ministry then, though he was not seen as part of the top policy-making team dealing with the 1991 crisis...............
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