The Reddy Years at the RBI - Running away from Greatness

PUBLISHED IN THE "INDUSTRIAL ECONOMIST" - OCT 2008

The post-mortem of Dr.Reddy's performance by the mainstream media have been far too kind to him... I think his performance is very similar to that of Greenspan - Great while in office, while in reality he is a "disaster waiting to be discovered".

& to top it all, Reddy is viewed as a "Hawkish Governor" -- for a Central Banker who printed money till our forests ran out of trees (i.e. expanded M3 at annualized 20% in his tenure) and had real-interest rates that were negative by a few hundred basis points to be viewed as Hawkish is truly "Orwellian".