- Former finance minister P Chidambaram described Raghuram Rajan as one of the most outstanding economists in the world, and wondered whether the Modi government “deserves” him.
- The statement was made after BJP MP Subramanian Swamy sent a letter to Prime Minster Narendra Modi asking him to sack Rajan because of the effects of high interest rates insisted upon by Rajan.
- Chidambaram made the statement after being asked whether Rajan, whose term ends in the first week of September, should be given a second term, saying that the Congrees will respond if the Prime Minister and the Finance Minister speak against Rajan.
- Chidambaram said that the UPA government had full confidence in the RBI governor and had no reservations about his stance on interest rates, adding that the Finance Minister and the Central Bank Governor look at the economy from their own perspectives and that it does not mean that the Finance Minister can question the competence of the Governor.
(With inputs from PTI)
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