Economic policy: The terrible twosome

India’s ‘elephant dance’ got disrupted by the global financial crisis and needs to be rejigged if the country is to regain growth momentum, said the central bank governor D Subbarao in his P N Haksar Memorial speech in Chandigarh late last month. In a thinly-veiled attempt to quell fears that our pre-crisis growth was only a flash in the pan, he pointed out it would not be quite correct to compare the Indian elephant with the Asian tiger economies or the Chinese dragon.

Read Full Story>>