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| "NamoRa" File photo |
.................Both took over their respective positions at a time when the economy was, and perhaps still is, in doldrums. Both were faced with fairly stark choices. Their predecessors—Manmohan Singh and D. Subbarao—had left them with unenviable tasks. Rates for economic growth and inflation had swapped places. We were growing at less than 5% and had an inflation hovering around 9%. Both leaders had to make a clear choice in their policy stance in order to prevail. They simply could not afford to carry on with the muddled approach..............
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