From the financial theory to practice Raghuram Rajan the chief economic adviser of India. Soon be head the Reserve Bank of India. Mr Rajan is even more of a free-market man than Mr Basu. Fault Lines attacks state subsidies of housing finance as well as Wall Street. He has been vocal about India’s troubles.
He takes the central bank reins as India faces testing economic times — hit by a capital flight with investors worried about slow growth, a massive deficit, stalled economic reforms and a slew of graft scandals that have paralyzed the political process
Rajan, who favors financial deregulation, is expected to bring new ideas to the RBI which the finance ministry believes to be too conservative.
Here is a short extract of his famous book “Fault lines” Continue reading “FAULT LINES : By The Governer Reserve Bank Of India”