»Once His Student, KV Subramanian s Economic Survey Takes Aim at Raghuram Rajan s Policies as RBI Guv
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Once His Student, KV Subramanian s Economic Survey Takes Aim at Raghuram Rajan s Policies as RBI Guv
File photo of CEA Krishnamurthy Subramanian.
The Economic Survey pins the blame for India s bad bank problem on “accounting sleight of hand” that RBI allowed around Raghuram Rajan s tenure as the central bank governor.
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What is at the root of India’s bad loan problem? The Economic Survey 2020-21 responds to this in a no-holds-barred manner. Shorn of jargon, it pins the blame on “accounting sleight of hand” that the Reserve Bank of India (RBI) allowed during 2013-16, broadly coinciding with the time Raghuram Rajan was the central bank governor.