In real terms, the increases are close to those registered in the last ten years. These developments are difficult to square with the medium-term objectives set out in the update of the Planning Document.
Raghuram Rajan represents the bold face of India’s potential new economy – impeccably credentialed, upbeat and ready to force himself onto centre stage in the global debate about the reshaping of the world economy. Appointed as governor of the Reserve Bank of India in September, Rajan has taken no time to make himself heard in international financial markets.