The
reason for the government's dithering over an extension
of Raghuram Rajan's term, which led to his decision
not to ask for one, cannot be attributed to his stance
on interest rates.
*
This
article was written when Raghuram Rajan announced an
unexpected move to step down as RBI governor after being
criticized for keeping the interest rates high. This
was originally published in the People’s Democracy,
on June 26, 2016 edition. |
