Have PM Modi and Jaitley backed Rajan against Swamy?
Swamy accused Rajan of raising interest rates which, according to him, led to recession; sending `confidential and sensitive` financial information to various persons around the world.
Subramanian Swamy, BJP's Rajya Sabha MP has now repeatedly written to Prime Minister Narendra Modi requesting the sacking of Raghuram Rajan from the post of Reserve Bank of India (RBI) governor.
Swamy accused Rajan of raising interest rates which, according to him, led to recession; sending `confidential and sensitive` financial information to various persons around the world; and being `publicly disparaging of the BJP government`, among other things. He even termed Rajan as 'mentally non-Indian'.
These accusations against the Rajan have stirred up a hornets nest as several economists and top CEOs of India Inc have come out to voice their support for him. Many even took to twitter against Swamy's comments.
Some such as Adi Godrej and Rahul Bajaj have openly come out in support of the Rajan.
But the Government has been silent, so far.
Interestingly, Prime Minister Narendra Modi and Finance Minister Arun Jaitley have made statements in the past few days that basically rubbishes Swamy's claims.
To begin with, Jaitley first said there should not be any personal attacks against the RBI governor.
He, on Thursday, used stronger words to show his disapproval of the personal attacks on Reserve Bank of India Governor Raghuram Rajan.
"I do not approve of any personal comments on anyone, let alone the RBI (Reserve Bank of India) governor. The RBI is an important institution; it makes its judgement. One can agree or disagree with their judgement, but that is mater of debate," Jaitley had told NDTV.
Modi, on Thursday, told the media to stop speculating about Rajan's term (which is ending in September this year).
It is Swamy who has repeatedly written to PM Modi to immediately sack Rajan. He has even publicly lashed out against Rajan.
Modi may have snubbed Swamy when in the media interview he said, “I don't think this administrative subject should be an issue of interest to the media.”
“Besides, it will come up only in September,” he told The Wall Street Journal, referring to the three-year term of Rajan which ends in September.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.