Taking on his detractors, Governor Raghuram Rajan today said the criticism that RBI killed growth with high rates was at odds with "received wisdom" of India being fastest-growing and urged the government to look beyond 'motivated criticism' to protect the central bank's autonomy. The outgoing Reserve Bank chief also rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices and not because of RBI's monetary policy measures, saying a significant part of decline in global prices has not been passed on domestically as the government has hiked excise on petrol and diesel. Rajan, who has decided against a second term amid a spate of attacks...
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