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She likes jubilant dresses with more layers than a Napoleon, coats embroidered for a raj and jewelry that sparkles like gold bullion.

Theaters, dance halls, cafes, racecourses and other businesses came along to keep the upholders of the raj entertained.

For now, India’s current rulers, its native-born billionaire raj, look set to maintain their reign.

They are his reportage, in which he relates his encounters with several of the men who are emblematic of the billionaire raj.

Licences for new banks are no longer rationed in the manner of the “licence raj”; they are instead awarded to all those who show they are fit and proper.