PM Modi defends Rajan’s RBI Policy; Calls him a True Patriot

Politics in India took an ugly turn when a political leader not just blamed the RBI governor for acting sheepishly in Indian economics, but also sent him a “Leave India” diktat. Since then, speculations were rife about what the ruling party in India-the Bhartiya Janata Party, thinks about the opinions. Or was it a salvo fired at the governor, with someone else as the target?


The Controversy: Political Blame game or a Scapegoat Conspiracy theory

The controversy behind Governor of the Reserve Bank of India, Raghuram Rajan took the country by storm in May when Hindi news online reported. After failing to curb inflation and coming up with any proactive steps to control the growing fiscal gap in the economy, he was sordidly accused of being an economist with vested interest by none other than, BJP member and Rajya Sabha MP, Subramanian Swamy. No one seemed to be backing his claims, but there was no refute from the party either.

Prime Minister’s Response

In a recent TV interview, PM Modi confirmed that Swamy’s opinion are his personal comments, and should not be associated with the good work and the great respect the party and the country has for the RBI governor. He even acknowledged the fact that Rajan has been continuously advising the government on critical fiscal policies and how it should approach the sluggish international market. He not only acquitted the governor, but also asked the country to overlook any comments made on a public servant serving his duty.

Why it happened?

Live Hindi news segment was largely aghast at the way the BJP handled its Raja Sabha MP. Or the lack of tenacity in holding him off!

After making endless remarks on the Opposition leaders inside and outside the Parliament, Swamy turned the canon at his own party. Many rated it as an irresponsible comment, considering he himself is a renowned economist with substantial involvement in Indian economics. After all, he is considered as the Brain child behind India’s economic liberalisation in the early 90s.

Many experts in politics revealed to the Political news in Hindi media that Swamy believes that every person appointed by the previous UPA government should be immediately removed, as they were mere stooge in the hands of Western agencies.

Why it took so much time to respond?

No public comment came from the party. The PM took it upon himself to deny the charge or accusation on Rajan’s patriotism by saying that everybody today is trying to be a social media champion, and want to make news for all the wrong reasons. He acknowledged that there was delay on his part, largely because of his international commitments and the way he thinks that Swamy’s comment was given undue political mileage by online channels and TV reporters.

The way ahead

While the RBI governor’s tenure of three years in office is coming to an end in September this year, he has already rejected the next offer. There are currently four prospective candidates in the line to become the next RBI Governor.


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