You could call it Reserve Bank of India Governor Duvvuri Subbarao’s “revenge” on Chief Economic Advisor Kaushik Basu. The forthcoming monetary policy review by the central bank is slated for Thursday March 15, which also happens to be the day the government is to table the pre-Budget Economic Survey for 2011-12 in the Lok Sabha. For Basu, this will be his third and last Economic Survey, a document he holds dear. If Subbarao comes out with the monetary policy review the same day, the Survey will likely be overshadowed by what the central bank does or does not do. Many will also see that as Mint Road’s triumph over North Block!
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