Yaga Venugopal Reddy was blessed with the opportunity to serve in interesting times: in the finance ministry during the foreign exchange crisis and reform burst of 1990-93, in the Reserve Bank of India (RBI) for more than a decade when the rules for the financial sector were being re-written, and then as chairman of the 14th Finance Commission that re-defined the fiscal relationship between the Centre and states. There is unlikely to be another quarter-century that sees so much action.
Among the key players of the time, Manmohan Singh has decided not to write his memoirs, P Chidambaram does not

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