....Rajan will need firm government action to tackle the ills crippling the economy as he tries to revive the rupee and tame inflation. Will he get it? That really is the trillion-dollar question, and that will decide his equation with the government. Incumbent RBI governor D. Subbarao, who he will replace, tried in vain to get the government to manage supply side constraints, but he only succeeded in inviting the finance ministry’s ire. Rajan may well fare better at managing the government, particularly as he has so much more at stake..........
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