Friday, May 2, 2014

Why Raghuram Rajan will have to surrender to a Modi government

........If the next Government is bold, it will prioritise agricultural reform and fiscal consolidation for its first three years in office and then think about inflation targeting for the RBI in the latter half of its term. That time frame may be too long for Rajan, whose terms finishes a little over two years into the next Government's term, but it is probably the only politically reasonable and feasible way to proceed..............

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