Amidst economic crisis and debates related to Raghuram Rajan’s end of tenure as RBI Governor, BJP MP Subramanian Swamy has some quite strong anti views to share. Mr Swamy’s recent letter to PM Modi deals with sufficient examples of how he is not at all impressed by Rajan’s ways of tackling Indian economy. Referring to Rajan as “mentally not fully Indian” in his ways to handle the issues the nation is facing, Swamy clearly blamed one of the most respected RBI Governors of all times. According to him Rajan has ‘wrecked’ the Indian economic scenario and should not be appointed as the Governor once again.
This particular need of writing a letter to the PM is the result of positive support Raghuram Rajan is getting politically, socially and economically of course. When the majority of the Indians believe that Rajan has done much more than he should have to cure the economic ills like recession, Swamy felt the need to address the PM directly to voice out his discontent in the matter.
BJP MP has asked the PM for Rajan’s immediate termination as the Governor of Reserve Bank of India the prime financial institution of the country. The basis of Swamy’s opposing stance can be seen in these excerpts from his letter to the PM.
“The reason why I recommend this is that I am shocked by the willful and apparently deliberate attempt by Dr Rajan to wreck the Indian economy,”
“Disastrous concept of raising interest rates to contain inflation,”
“Bad loans with public sector banks has doubled to Rs 3.5 lakh crore in two years,”
“These actions of Dr Rajan lead me to believe that he is acting more as a disrupter of the Indian economy than the person who wants the Indian economy to improve,”
“Moreover he is in this country on a Green Card provided by the US government and therefore mentally not fully Indian. Otherwise why would he renew his Green Card as RBI Governor by making the mandatory annual visit to the US to keep the Green Card current?”
Now whether PM Modi would agree with Swamy that Rajan is “not appropriate for the country” and that “he should be sent back to Chicago”? Of course, time will tell us what the head authority of the country thinks on this. But all we know that even if he is not the governor for the next tenure, Raghuram Rajan will be remembered as a good man with good economic streak.
