Sometime last year, Prime Minister Narendra Modi professed that RBI Governor Raghuram Rajan is the ‘best teacher’ for explaining complex economic issues to him. Just a few days later, Rajan reciprocated by saying the teaching went both ways.
Substantiating the fact that Modi does want Rajan for another term is this article that surfaced on Reuters last week, which stated that any campaign against Rajan will not affect the big decision that he needs to make on Rajan’s re-appointment. This is of course a reference to Rajya Sabha MP Subramanian Swamy’s attempts to remove Rajan.
The Prime Minister’s patronage will definitely go a long way in helping Rajan secure a second term as RBI governor but if only that was all.
A new report has surfaced that Rajan doesn’t even want to continue as Governor and would rather spectate in the game by going back to teach in the US and continue his research on the Indian economy. Apparently, his family has already left.
All of this sounds like a recipe for a great show, and we’re really curious to know what’ll happen next. What are your thoughts on this? Write to us in the comments section below.