Former RBI Governor D Subbarao criticizes CAG's interpretation of 'presumptive loss' in his new book, questioning its authority to deem tax concessions announced by the government as such.

Former RBI Governor D Subbarao criticizes CAG's interpretation of 'presumptive loss' in his new book, questioning its authority to deem tax concessions announced by the government as such. Subbarao argues that this approach could diminish democracy rather than enhance it. His book also discusses his involvement in the 2G spectrum pricing decision during the UPA-2 government's tenure.