In this episode, Shruti speaks with Chakravarthi Rangarajan about currency crises, how the post-liberalization reforms built on earlier reforms, fiscal dominance, capital mobility and much more. Rangarajan is an Indian economist, a former member of parliament and 19th governor of the Reserve Bank of India. He formerly chaired the Prime Minister's Economic Advisory Council. He is also the chair of the Madras School of Economics; a former president of the Indian Statistical Institute; the founding chairman of the C.R. Rao Advanced Institute of Mathematics, Statistics and Computer Science; former chancellor of the University of Hyderabad; and a professor at Ahmedabad University. His book “Forks in the Road: My Days at RBI and Beyond” describes the path-breaking reforms that he implemented during his tenure as governor of the Reserve Bank of India. Recorded March 22nd, 2023 Read a full transcript enhanced with helpful links. Follow us on Twitter Follow Shruti on Twitter Click here for the latest Ideas of India episodes sent straight to your inbox.