Should Rajan have gone or not gone? why did he come and why did he go?

Did UPA treat him badly or did NaMo treat him badly?

Swaminathan Subramianiam in a nice article sums it up well – as point and on..

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  1. I mean cmon!

    Its ok if people say it not the govt’s fault and blah blah.
    But Rajan was good! and he should have stayed for two more years.
    It would have made things much much better!

    Modi should have made sure he did, idiots like Swamy will only make India worse and by encouraging them we are only committing a crime!

    In a different story, Chetan Chauhan is the new chairman of NIFT?? WTF??
    So i agree, Modi and BJP is running out of loyal choices! But is it really about loyalty or finding the right skil set for the job?

    I like Modi and i like Parikar, but really Chetan Chauhan??

    I wish Modi had the balls to replace Jaitley as the Finance minister and things would be better!

    There is a thin line between doing the right thing for the country and trying to quash everyone who seems like a threat to his reelection. I think he is crossing the line now.

  2. The news headlines of last one month suggests that some entities were trying to force govt into taking a decision to confirm his appointment going to extent that seems like blackmail. Succumbing to such media pressure would have damaged autonomy of govt. It reminded me of intolerance debate where there is less discussion and more lobbying. Even rajan’s own public comments were not restricted to rbi policymaking.

    So. Letting him go seems good decision.

  3. In my view, Rexit was planned by govt start of this year itself, but was for different reasons – “behind the curve” on rates and bad loan chase. But it was not too keen on pushing him out.
    Something happened in 5 months (not sure what prompted govt) but here are my guesses:
    1. The strongest impetus came from bank lobbying (chasing bad loans of PSUs who are gods? Is Rajan nuts???)
    2. Confidence in dealing with an alternate choice – look at the level of preparation they’ve gone to – LIC’s DII buying on Monday, hawky control on Forex rate. This doesn’t happen all of a sudden; this is months in making.
    3. It is not worth handling all media attention coming out from RBI stable – tussle or harmony with govt.

    Anyway, sending a rotten apple like Swamy after Rajan is wayyyy below the belt. All the good Modi’s branding did will go up in flames with situations like this.
    This should’ve been handled much much better.

  4. People comes nd go system works. We should not lay emphasis on individual. Any point of time individual has to go.

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