Is FM pitted against an old boy network?

Mr Chidambaram's loaded statement which barely masked his ire and disappointment was perhaps directed at Chakravarthy Rangarajan, and not Duvvuri Subbarao. Soon after Tuesday's policy announcement and days before it, Mr Rangarajan, who heads the Prime Minister's Economic Advisory Council and is a former RBI governor, minced no words to spell out that the central bank was on the right path.

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