The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
Mrinal Datta Chaudhuri, MDC to his students, was beyond compare -- the stuff of tales and legends at the Delhi School of Economics. He was also a good intuitive economist.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
Son of a mechanic from the Public Works Department, Ayush Sharma has not only won admission to the undergraduate programme at the prestigious American university, but also a full tuition waiver.
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
Democracies avoid serious political turbulence only so long as they ensure that the relative level of inequality between the rich and the poor does not become excessively large, says Vice President M Hamid Ansari.
'... for two reasons: the poor quality of education, and the low rate of female participation in the labour force.' 'Unless something is done quickly to remedy these problems, India will just have a large population of low-skill, low-wage, males trying and failing to feed their families adequately.'
Five per cent growth is disappointing but only after having reached nine per cent. However, it is still not all that bad, says Andrew Michael Spence.
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