New Delhi, June 18: The political battle has begun over the announcement of RBI Governor Raghuram Rajan that he would not serve a second term at the central bank. Senior Congress leader P Chidambaram has said the government 'didn't deserve Dr Rajan'. Union Finance Minister Arun Jaitley meanwhile said Rajan's successor would be announced soon.
"I am disappointed and profoundly saddened by the decision of Dr Raguram Rajan to leave the RBI on completion of his term on September 4, 2016, but hasten to add that I am not surprised at all," read a statement from Chidambaram, who was the Union Finance Minister when Rajan had been appointed to head the RBI.
"The government had invited this development through a craftily planned campaign of insinuations, baseless allegations and puerile attacks on a distinguished academic and economist," he continued.
"As I had said some time ago, this government did not deserve Dr Rajan. Nevertheless, India is the loser," Chidambaram declared.
The government however, kept its response to Rajan's announcement simple. "Dr. Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment. The Government appreciates the good work done by him and respects his decision," said Union Finance Minister Arun Jaitley in Facebook post.
"A decision on his successor would be announced shortly," he added.
Rajan had said in a letter to his RBI team that he would return to academia after his present term ends. The announcement had come amid intense speculation over his extension in the post, as well as a verbal attack by BJP leader Subramanian Swamy.
Swamy took another shot at Rajan. "Let him pretend that he is giving up and going. As long as he is going, it is good," Swamy told news agency ANI.
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