The enthusiasm with which markets reacted to the new Reserve Bank of India (RBI) governor's enthusiastic first day at the office made me realise that the Indian economy is entering a new phase - Raghuram Rajya, to coin a cute term. Wikipedia and my kids explained to me that the historic/mythological term, Ram Rajya, far from connoting any Hindu ascendancy (as has been often pushed recently), was, to quote Mahatma Gandhi, "undoubtedly one of true democracy … [that] ensures equal rights alike of prince and pauper"...............
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