It is unfortunate that Subramaniam swamy has written to the PM to remove RBI Governor ignoring the Status of the Governor, his contribution to the economy, his personal merits as an economist recognised all over the world and above all the supposed autonomy the RBI as a central bank enjoys for its independent views and policies . It is unbecoming of an MP to openly demand sacking of RBI Governor who has been an Indian and who has been specifically brought to the Country to find ways and means to take the economy out of its bad shape for reasons known to Politicians and unknown to even veteran economists. As Governor Dr Raghuram Rajan proved his mettle and displayed his determination, courage, knowledge of economics and love for the country to take it forward and bring it on par with some advanced economies. His out of box thinking and his unique style of functioning keeping the Government under tenterhooks to make the central banks policies work effectively has perhaps irked some political masters and his speeches to drive home the need to have Government policies in tune with his thinking have irritated some Ministers without appreciating his intentions and desire to take the economy forward. All said, his contribution to save the economy from distress is commendable and unparallelled. Definitely, RBI and the Government will have to recognise and record in golden letters as and when RBI History is written for the period Dr Rajan was governor. Hope wiser counsel will prevail and the Government will keep him for another term both in the interests of the Government and the economy.
Dr T V Gopalakrishnan
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