Sack Raghuram Rajan : Subramanian Swamy thunders
"I feel Raghuram Rajan is not appropriate for the country. The country has suffered because of the way he raised interest rates saying that inflation will be curbed. He should be relieved as soon as possible and sent to Chicago," Swamy a senior member of the Rajya Sabha, said.
Before assuming charge as the 23rd Governor of the RBI on September 4, 2013, Rajan was with the University of Chicago Booth School, where he was the Distinguished Service Professor of Finance at the Booth School.
Rajan, known for being straightforward in airing himself, recently said though his job of formulating monetary policy in India is joyful and easy task, complexities arise when ensuring its political acceptance for which one needs to be "a little more than clever."
Subramanian Swamy
"You can't bulldoze your way in some of these situations and therefore you have to be a little more clever. You have to understand where altering a policy from Economics 101 will make very little difference, but be politically more acceptable," he said on Wednesday at the Cambridge University.
Addressing the students, Rajan said policy formulation in an emerging market like India is a fairly basic economics task as such.
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