A few hours back I was also thinking like PM. But after a study of Rajan’s working I was convinced that there is some truth is there in his criticism against RBI Governor and others. Can anybody tells us what is Rajan’s contribution as RBI Chairman during UPA period and NDA period? When he took over as RBI Governor Rupee exchange rate was 1 USD = 61.8194.INR When NDA came to power the exchange rate was 1 USD = 58.4441.INR on 19th may 2014. Afterwards, it started increasing in spite of reduction in oil price in the world market. What does it show? RBI Governor did not take any action to stop the depreciation of Rupee against the dollar. Actually, the reduction in oil price enabled the country to come out from the mess created by the corrupt Italian Sonia Congress. Raguram Rajan's loyalty to India is questionable. Why did he not take any action to stop depreciation of the Rupee? Had he done it, the country would have been in a much better position. But the Congress slaves are supporting him. So what Dr.Subramanian Swamy said is correct.
Re: Re: Modi praises Rajan, disapproves Swamy's remarks
by wilson chandran on Jun 27, 2016 06:39 PM
Mr Govindan - Export sector shows still negative continuously over 20 month, Index of Industrial Production (IIP)is also very meager Two years monsoon failure costing agri production less. Major banks have shown loss and some other inclusive of private banks have shown lesser profit which never occurred since nationalisation - NPA has been doubled.
Expenditure towards imports is reduced due to cost of petroleum so that Fiscal deficit is reduced and hence the economy has not been affected. For all such things RBI alone is not responsible. Govt policies as well as budgetory allocation etc are necessary - Who is responsible for that.
Re: Modi praises Rajan, disapproves Swamy's remarks
by Logan D on Jun 27, 2016 06:39 PM
You are agreeing that Rajan was instrumental in bringing down the US Dollar exchange rate from 61.8194 to 58.4441 per dollar. This was done by boosting exports by the then Government.
During NDA period, Exports have fallen a lot. It has fallen from USD 310 Billion in FY 2014-15 to 260 Billion in FY 2015-16. Please note that exports are falling for the last 18 months, without break. How do you think USD will not appreciate when exports are falling ?
Oil price fall in the international market is a bonanza. Most of its advantages pocketed by the Government, thru export duties and profits of Public Sector refineries and Reliance Industries.
As usual, these comments are not sincere. If Mr Modi had such a good opinion of Mr Rajan, why did he not speak out earlier? It is all very well to praise him now, after the die is cast, after Rajan has decided to leave.
It is so easy to see through such games! Let's see whom they bring in place of Rajan.
Re: Insincere.
by Logan D on Jun 27, 2016 06:42 PM
I agree. Mr Modi should have shut the mouth of Swamy when he wrote two letters to the PM. Reacting so late does not make sense and does not serve any purpose.
As usual, these comments are not sincere. If Mr Modi had such a good opinion of Mr Rajan, why did he not speak out earlier? It is all very well to praise him now, after the die is cast, after Rajan has decided to leave.
It is so easy to see through such games! Let's see whom they bring in place of Rajan.
Any other distinguished person can occupy the position. May be, market and public in general (even in Government) is having more confidence with the present Governor. That matters.
Re: But where is the punishment
by bakchod on Jun 27, 2016 05:02 PM
How many people did Rajiv Gandhi punish for 1984? How many people did Nehru punish for 1962? We lost tens of thousands of innocent people in the first and 1/3 of Kashmir besides thousands of soldiers in the second. Did you ask for punishment then? Yet you want someone to be punished for speaking their mind? What happened to free speech now?
Re: Re: But where is the punishment
by Logan D on Jun 27, 2016 06:46 PM
Mr Atal Bihari Vajpai was in deep sleep and allowed Pakistanis to intrude in Kargil. India lost 2400 soldiers. The then NDA Government made a scam in importing Coffins and made themselves rich.
Re: But where is the punishment
by vishal patel on Jun 27, 2016 05:51 PM
Your Khangress - weakest , most corrupt , most third class party in the whole World . Shame on your party for looting India for 60 Yrs
Re: But where is the punishment
by Ravish Bharti on Jun 27, 2016 06:31 PM
Democracy will die if he punish Swami for his opinion. The democratic system corrects itself over the time, though it takes time but it will be fixed and long lasting.
at least continue for few more months. Britex and 7pc shall have economic consequences for india. your experience is needed. As you yourself said in statement you shall serve country when needed,you shall not back out when country needs you at this crucial juncture.
