Once bitten, twice shy: Subbu is telling Chidu, ‘pehle aap’

So Dr Duvvuri Subbarao, the Reserve Bank of India (RBI) Governor, has done it again: he has held firm on rate signals, but has acknowledged the small effort made by the finance minister in moving towards fiscal consolidation with nice words and a small pat on the back. But no gung-ho praise and enthusiastic opening up of the monetary tap. This is the net takeout from his mid-quarter monetary policy statement today...

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