New Delhi: Duvvuri Subbarao, who took over as the new governor of the Reserve Bank of India (RBI) for a three-year term today, has said that bringing prices down would top his immediate agenda. Talking to reporters in the city he said that his top priority would be to anchor inflationary expectations. An alumnus of the Massachusetts Institute of Technology, he took over the reins from economist Y V Reddy at a time when India's annual inflation rate is ruling at six-year highs of well over 12.34 per cent, while economic growth has seen a slowdown.
Subbarao, who till his new assignment was India's finance secretary, is a member of the 1972 batch of the Indian Administrative Service, belonging to the Andhra Pradesh cadre. In the past, he has also worked as secretary to the Prime Minister's economic advisory council which, till about two weeks ago, was headed by former RBI Governor Chakraborty Rangarajan.
An alumnus of the prestigious Indian Institute of Technology at Kanpur, Subbarao joined the civil services after earning Masters in Economics from the Ohio State university. At MIT, he was a Humphrey fellow, and earned a doctorate in economics from Andhra University. (IANS)
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