Trial by fire awaits Raghuram Rajan
Even though Rajan’s first task will undoubtedly be to stabilise the external sector, there will be bigger challenges for him to handle through the length of his tenure. Inflation control will—and should—always be the main gauge of performance. But, beyond that, there are three sets of issues that will also be salient: the analytical framework of the central bank, its relationship with the government and its responses to global economic events. Read More
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