There could have been a better exit for Rajan
Outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan is one of the very few Governors who has enjoyed nationwide popularity on account of a couple of influential as well as pragmatic strides he took during his tenure in the interest of the country’s economy. Rajan’s acumen was on display when he foretold the 2007-2008 financial collapse long before he had taken over even as his performance during his three-year tenure has been appreciated amid a few exceptions of disagreements.
All was going on well until a few voices, criticising his way of working were raised from certain quarters against Rajan’s ‘one-eyed king’ remark for the Indian economy. This despite his bona-fide intent in comparing it with the diminishing global economic scenario. However, such political appointments squarely hinges on the ruling regime’s pleasure but the situation under which he is leaving is really unpalatable and could have been averted.
Azhar A Khan