Raghuram Rajan’s decision to not seek a second term will affect India’s growth: Poll
60% of respondents to a Mint-instaVaani poll said PM Narendra Modi should be held accountable for adverse effects on the Indian economy due to Rajan's exit
Reserve Bank of India (RBI) governor Raghuram Rajan’s decision not to seek a second term will affect India’s growth story, according to 60% of respondents to a Mint-instaVaani poll that covered 509 people across major metros.
Rajan said in June that he will demit office when his three-year term ends on 4 September and return to the academic world—a decision that took everyone by surprise.
Rajan’s decision was seen as a consequence of the repeated attacks on him by the Bharatiya Janata Party’s Rajya Sabha MP Subramanian Swamy, who demanded his sacking for keeping interest rates high and thus holding back economic growth.
A majority of respondents laid the blame on “vested interests" for Rajan not getting an extension (58% ,or 118 respondents of 204 who replied to a specific question on the issue).
Sixty-nine percent (193 respondents of 279) said the government could have handled the RBI governor’s exit better, and 60% (101 of 169 respondents) said Prime Minister Narendra Modi should be held accountable for any adverse effects that Rajan’s exit will have on the economy.
The prime minister, in an interview to the TV channel Times Now this week, strongly defended Rajan, but had maintained public silence when Swamy was waging his campaign against the RBI governor.
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