Deepak Lalwani's India Report
Comment of the Day

August 12 2013

Commentary by David Fuller

Deepak Lalwani's India Report

My thanks to the author for his informative report. It is posted in the Subscriber's Area but here is the opening, posted without further comment
India named a former IMF Chief Economist as next Governor of The Reserve Bank of India (RBI), from 5 September. Mr Raghuram Rajan, 50, returned to India from the U.S. last year to become Chief Economic Adviser. He was widely tipped to head the RBI which sets interest rates and influences economic growth. An excellent choice of this soft spoken intellectual heavyweight who is not afraid to speak out. Very well received by India PLC. His biggest challenge in the new job may be dealing with political decisions which may limit his effectiveness. The RBI is semi-autonomous of the Government, although Governors have a lot of independence.
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