I agree with PC to some extent, had he kept the exchange rate - TopicsExpress

I agree with PC to some extent, had he kept the exchange rate stable, those GDP numbers would be his. Unfortunately Indian reports GDP numbers in USD and not INR - and the sliding rupee caused his report card to look bad. However, the new FPI/FII bubble is creeping up. Not sure how the high return rates for FPIs are backed by adequate Forex. PC should have stuck to status quo and moved in post elections. What Rajan is worried about - the global market crash- is exactly what he is not covered against- timesofindia.indiatimes/business/india-business/RBI-governor-Raghuram-Rajan-warns-of-another-market-crash/articleshow/39868459.cms timesofindia.indiatimes/india/Congress-deserves-credit-for-economic-revival-Chidambaram/articleshow/41309416.cms

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