India’s Economy after Rajan
Raghuram Rajan’s decision not to seek a second term as Governor of India’s central bank was met with shock from many observers. While Prime Minister Narendra Modi’s government certainly had its problems with Rajan, few believed that the government would take a step that so clearly undermines India’s interests.
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NEW DELHI – Raghuram Rajan’s decision not to seek a second term as Governor of the Reserve Bank of India (RBI, India’s central bank) was met with shock from those of us who have been cheering on the Indian economy. While it is no secret that Prime Minister Narendra Modi’s government had its problems with Rajan, few believed that the government would take a step that so clearly undermines India’s interests.