Prime Minister Narendra Modi came forward to defend Raghuram Rajan but it would have been appropriate if he had taken action against Rajya Sabha MP Subramanian Swamy who utters nonsense against officials holding important positions to remain in the news for all the wrong reasons. Modi is a honest man and nobody doubts about his decisions which are taken for the benefit of the country’s progress and development. Rajan is perhaps the best RBI governor our country has ever witnessed and PM can still use his executive powers to extend the former’s term which is all the more important in view of recent global developments after Brexit.
We need a referendum to block Rajan’s exit and we nearly had one in the social and business media which suggested his remaining as RBI chief was very essential for our country. Rajan is one of the top economist in the world today apart from being a man who can foresee future global events. His exit at this stage from RBI office would be a disaster for India and let us all root for him to reconsider his decision which must be supported by the government with an open invitation to continue as RBI Chief.
S.N. Kabra
(The views expressed by the author in the article are his/her own.)
