RBI chief Raghuram Rajan is a top economist and unlike politicians it is below his dignity to beg for extension to his term which he would never ever ask for once it expires. However, his exit as RBI governor would be a disaster for our economy which the government would realize in future. People like Subramanian Swamy and their tribe are unreasonable in asking for his ouster as he has been one of the best governors our country has ever witnessed.
Rajan is unpopular among the ruling party because he was appointed by the Congress and also for the fact that he does not toe popular measures to please politicians but thinks about making our economy stronger as a longer-term goal which means taking tough decisions for the short-term. The country needs Rajan as RBI governor and not the other way round and Prime Minister Narendra Modi should use his executive powers to retain Rajan in his post by convincing him to stay if he decides to quit once his term is over. Raghuram Rajan is a no nonsense personality who would keep himself away from controversies. The business community and corporate houses are very much impressed by his work and it would be in the interest of the country that he is retained for the second term.
(The views expressed by the author in the article are his/her own.)