As Subbarao remains unrelenting, a survey of caution from Basu

It is now clear that D Subbarao, Pranab Mukherjee and the rest of us aren't really part of the same economy. Monetary policy will remain fixated on inflation; fiscal policy will be captured by political tug-of-wars; and beyond them, we will continue to reel under high prices and soaring but impotent interest rates. That high interest rates have not been able to control the inflation rate is a fact Mint Street, home to Reserve Bank of India (RBI), has been consistently dismissing.

Read Full Story>>