........Had our PM been a wee bit more 21st century in his outlook, he would have chosen a Reserve Bank of India Governor, who understands not Chicago University classrooms and textbooks but the needs of the economy of a country that Professor Raghuram Rajan knows hardly at all. Instead, Manmohan chose an RBI Governor, who does what Wall Street wants rather than what Dalal Street needs, and who believes that inflation can be tamed by higher interest rates. Raghuram Rajan has shown that he is as dedicated to wrecking Indian industry through higher interest rates as his predecessor Duvvuri Subbarao was..............
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