Raghuram Rajan’s revelations on demonetisation: Narendra Modi shouldn’t have ignored his caution

First, if Raghuram Rajan did not approve the demonetization “at any time during his term,” how did the government claim the Indian Reserve Bank (RBI) on board six months before launch to begin preparations for the massive disruption exercise in the economy? Rajan left the RBI on September 4, 2016 and the demonization was announced … [Read more…]

CMs as envoys

Prime Minister Narendra Modi’s engagement with the out­side world, before he took the top office, was through the bi-an­nual Vibrant Gujarat Summit, which gave him an opportunity to not just reach out to businessmen from dif­ferent parts of the world, but the political leadership as well. His inves­tor-friendly policies had made him a popular figure … [Read more…]