Just a day after BJP MP Subramanian Swamy publicly wrote to PM Modi seeking termination of Raghuram Rajan as the governor of the RBI, the Congress claimed on Wednesday that Swamy’s actual target is Finance Minister Arun Jaitley.
Subramanian Swamy is actually targeting Arun Jaitley, RBI Governor is just an excuse:Congress
— ANI (@ANI_news) May 18, 2016
This comes after Jaitley, in a TV interview with ET Now on Tuesday, said that the decision on extending Rajan’s tenure at the central bank would not be influenced by any ‘other’ factor. Jaitley added that both the government and the RBI are ‘responsible’ institutions and share a ‘mature’ relationship with each other. Swamy, who has repeatedly spoken ill of Rajan, had written to the Prime Minister saying the economist is ‘disrupting’ the Indian economy. Swamy added that he should be removed on grounds of ‘nationalism’ as Rajan is ‘not fully mentally Indian’ as he is a green card holder. Contrary to Swamy’s staunch criticism, Rajan has been lauded by independent analysts, politicians in the opposition and global investors praising his calibrated rate cuts. Even the Finance Minister had publicly affirmed his support to Rajan. The article in The Wire argued that a lobby from the domestic corporate class, keen on a sharper rate cut for their personal gain, is also in favour of terminating Rajan’s contract. it is well known in political circles that Jaitley and Swamy are not the best of friends within the BJP. Although, Swamy did not mention Jaitley this time around, in November 2015 he had targeted Jaitley for not doing enough to bring black money back to the country and check inflation.
This comes after Jaitley, in a TV interview with ET Now on Tuesday, said that the decision on extending Rajan’s tenure at the central bank would not be influenced by any ‘other’ factor.
Jaitley added that both the government and the RBI are ‘responsible’ institutions and share a ‘mature’ relationship with each other.
Swamy, who has repeatedly spoken ill of Rajan, had written to the Prime Minister saying the economist is ‘disrupting’ the Indian economy.
Swamy added that he should be removed on grounds of ‘nationalism’ as Rajan is ‘not fully mentally Indian’ as he is a green card holder.
Contrary to Swamy’s staunch criticism, Rajan has been lauded by independent analysts, politicians in the opposition and global investors praising his calibrated rate cuts. Even the Finance Minister had publicly affirmed his support to Rajan.
The article in The Wire argued that a lobby from the domestic corporate class, keen on a sharper rate cut for their personal gain, is also in favour of terminating Rajan’s contract.
It is well known in political circles that Jaitley and Swamy are not the best of friends within the BJP.
Although, Swamy did not mention Jaitley this time around, in November 2015 he had targeted Jaitley for not doing enough to bring black money back to the country and check inflation.