The Crisis Manager

As for his record in government, Reddy is remembered for his contributions in the crisis years of 1991. He took care of almost every detail, including the decision to pledge the country's gold for raising precious foreign exchange reserves.

His best experience: "Working with N T Rama Rao." In fact, Reddy was part of what was the first privatisation experience, when the state government offloaded its stakes in the Allwyn-Nissan venture. The share, which was listed at Rs 3, was finally sold at Rs 17. What is more, a prior agreement ensured that no retrenchment of labour took place.

Armed with a PhD in economic planning from Netherlands, Reddy describes himself as a "desi economist with a global awareness".