The proposed four per cent inflation target is onerous, considering India is currently battling near-double-digit increases in prices.
Raghuram Rajan is correct -- the RBI's monetary response to inflation in the past has been too weak.
Companies that loaded up on debt when India was being hailed as the world's second-fastest-growing economy are now deleveraging to clean up their balance sheets.
In India's fifth year of deficit-fuelled poor-quality growth, an investment recovery will still be distant.
India's officialdom must turn to the diaspora to fund the economy's addiction to foreign money.
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