Let there be no doubt about his educational background and his competency. It was he brought in public the large loans of nationalised banks as he had the courage to speak the truth. But for his efforts it would not have been possible to know that PNB has an accumulated loss of about Rs 5600 crore. He is in same position where Dr. Manmohan Singh was in 1991. It will be big boon if the ruling party brings him in as Finance Minister. He will be be able to correct a lot of wrongs and let us hope for it.
Governor Rajan has become the bugbear for those groups which have interests vested in the continuity of the past systems...one of mutual indulgence. Raghuram Rajan has also upset a lot of bankers with his support to payment banks, etc. So there is no surprise that some swadeshi argument laced with nationlism is being built up. The finance ministry is playing along, nudging the protestors but keeping a safe distance.
Going by precedence, Dr Rajan should become the finance minister, following in the footsteps of Dr Singh. The prime minister it appears, if one goes by his statements in parliament or outside has appreciation for Rajiv Gandhi's and Narasimha Rao's
It would be a surprise if his term ended without engaging him in an alternate role in the Government. There is little that he has achieved yet, other than holding the lid on the interest rates, which was the technique used by Y V Reddy and Subba Rao too. But what he has spoken has excited people more than what he has really achieved. Currency stability? Really?! If Indian Rupee appreciates any more, some of the leading businesses will have to be reviewed for bankruptcy..maybe the bill got readied just in time ?
Ever since Mr.Rughuram Rajan has been appointed as Governor of RBI there is lot of PR which focuses on RBI and its Governor.
He is always in the news unlike his predecessors.
To reappoint him or not is government's decision and I doubt these news are also part of PR to give him another term. There are many other equally or better qualified professionals / bureaucrats who can do a better job.
I entirely agree with you Mr Murlidharan. In fact it is bold of you to state what you have in support of Rajan considering you have been part of the establishment having worked at SBI. Rajan is probably the most mature professional economist and able Central banker in the entire world at this moment of time and surely India owes him much. I am sure that Modi and Jaitley admire him by now despite the fact he was brought in in 2013 by the UPA. The have seen thru the Bombay Club. Just as our army is apolitical, our Judiciary independant our RBI Gov has shown he can be candid enough to make the right decisions that the complex situations have demanded. Quite rightly you have stated that the economy is on an even keel, inflation fairly controlled, the Re stable and national debt within limits. What else can one do when one is one-eyed & balancing on a tightrope!
Mr. Swamy is only telling in advance what the govt has in mind. He is the loose cannon used by Mr. Modi to convey the message. If I was in RBI governor\\\'s place, I would be packing my bags.
Whenever BJP guys say something your colums comme out immediately supporting the opposite view. The best thing for BJP to get something done with column support is to say something to that is opposite. I am yet to see one item on your site that supports the BJP opinion. Just shows you are biased and totally sold out. After 10years of dumb and mute PM's govt we have some action for heaven's sake be positive
