Attack after attack is launched on RBI governor, Mr. Rajan. Now BJP legislator Subramanian Swamy has written an open letter to Indian Prime Minister Narendra Modi advising that he consider canceling the appointment of Reserve Bank Governor Raghuram Rajan effective quickly or when his term ends in September of this year, 2016.
In his letter to the PM, dated yesterday, Mr Swamy has charged Dr Rajan of an evidently deliberate effort to damage the Indian economy and contends that the RBI governor is mentally not a hardcore Indian, given that he remains to revive the Permit released to him by the United States federal government. This thing catches the eyes of all Medias. But yesterday Finance Minister said that Finance department and RBI has a very good understanding. So, what Swamy is trying to convey is fully one eighty degree feelings of the Finance Minister.
As an example of Dr Rajan’s activities as the RBI governor that he declares have broke the economic climate for a stable economic situation, Mr Swamy mentions what he calls the disastrous idea of consisting of inflation by elevating interest rates. He has declared that Dr Rajan’s decisions have actually squeezed little and medium sized business as well as boosted joblessness in the nation.
In his letter to the PM, Mr Swamy points out that Congress led UPA government assigned Dr Rajan.“It is Swamy that should go abroad as well as teach. That will certainly place an end to turmoil and also blackmail in parliament every day” the Congress’ C Hanumanth Rao had claimed after the BJP legislator’s strike on the RBI governor recently.
Designated by the previous regime, Dr Rajan’s position was considered as precarious when the BJP pertained to power in 2014. But the governor has emphasized that there is a considerate partnership between the reserve bank as well as the federal government. Let’s see how far this tussle goes where PM Modi took a part of being silent in this case.