New Delhi: The Congress party on Saturday accused the Narendra Modi government of “hounding out” the Reserve Bank of India governor
Raghuram Rajan and said he has done what any “self-respecting” person would do
even as the Bharatiya Janata Party declined to comment.
BJP MP Subramanian Swamy, who ran a tirade
against Rajan, took a jibe at the outgoing RBI governor’s decision, saying
whatever “fig leaf” he wants for hiding the reality, the people should not
grudge it and tell him goodbye. Former finance minister P Chidambaram said he
was “disappointed and profoundly saddened” by Rajan’s decision against a second
term, but was not surprised by the development.
“I am disappointed and profoundly saddened
by the decision of Raghuram Rajan to leave the RBI on completion of his term on
September 4, 2016, but I hasten to add that I am not surprised at all."
“As I had said sometime ago, this
government did not deserve Rajan. Nevertheless, India is the loser,” he said.
He said the government had invited this development through a craftily-planned
campaign of insinuations, baseless allegations and puerile attacks on a
distinguished academic and economist.
Rajan was appointed RBI governor by the
United Progressive Alliance government in 2013 when Chidambaram was finance
minister. Congress spokesperson Manish Tewari said the government had “hounded”
a good man as it did not have the courage to ask him to leave.
“The message that this fascist government
is sending to regulators is that if you do not toe our line we will mount a
campaign of calumny and wild insinuations and bludgeon you into submission.
What Rajan has done is what any self-respecting man under such circumstances
will do,” he said. Rajan had done a phenomenal work, he added.
BJP spokesperson G.V.L. Narasimha Rao
declined to offer comments.
“BJP generally do not offer political
comments on any office of independent regulator or Constitutional positions,”
he said. Swamy was, however, quick to take potshots at Rajan. “R3 has said he
will go back to US. Whatever fig leaf he wants for hiding the reality we should
not grudge it. Say good bye!,” he said in a tweet. Earlier, reacting to Rajan
decision against a second term, he told reporters, “Raghuram Rajan is an
employee of the Government of India. We don’t select employees on the basis of
popular vote.”
D. Raja of the Communist Party of India
asked the government to explain if the charges Swamy levelled against Rajan
were “genuine or justified”. “What about charges levelled by Swamy against
Rajan. The Prime Minister and Finance Minister should explain if they agree
with it or they let down Rajan.”
Buffeted by political attacks coupled with unending speculation
over his continuance, Rajan on Saturday said no to a second term in the post, a
surprise decision the industry and opposition parties termed as nation’s loss.
“... on due reflection, and after consultation with the government, I want to
share with you that I will be returning to academia when my term as Governor
ends on September 4, 2016,” Rajan said in a message to the RBI staff
