Re­tain Ra­jan as RBI Gov, Bhag­wati Ad­vises Modi

The Economic Times - - Economy -

De­scrib­ing the BJP’s elec­tion vic­tory as an “as­ton­ish­ing tri­umph of Naren­dra Modi”, noted econ­o­mist Jagdish Bhag­wati on Mon­day ad­vised him to re­tain Raghu­ram Ra­jan as RBI gover­nor and to hold monthly press con­fer­ences to ar­tic­u­late the govern­ment’s agenda. “The as­ton­ish­ing tri­umph of Naren­dra Modi in the great­est elec­tion ever held puts In­dia back on the map. “Un­like the UPA lead­ers, the new PM, who is not tongue- tied, should hold monthly press con­fer­ences where he can bring his agenda and ac­tions be­fore the pub­lic and carry them with him. He was won­der­fully ar­tic­u­late dur­ing his cam­paign; he can do no less now that he is the prime min­is­ter,” he said. Re­ply­ing to ques­tions, the econ­o­mist put his weight be­hind RBI gover­nor Ra­jan, ad­vo­cat­ing that he should re­main at the helm. “I also be­lieve that he (Modi) ought to keep Raghu­ram Ra­jan. He is a ma­jor econ­o­mist who com­mands in­ter­na­tional re­spect as well,” said Bhag­wati, pro­fes­sor at Columbia Univer­sity. There has been spec­u­la­tion that the Modi-led govern­ment could change the RBI gover­nor.

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