“The Act clearly says four percent is the target and the two to six percent band has been given only to absorb temporary or one-time shocks.”
Talking about his achievement, Rajan said his monetary policy had helped bring India’s rate of inflation down.
Raghuram Rajan became RBI governor in 2013 and last month said he would not opt for a second term.
The Opposition Congress slammed the BJP government, saying it had “invited this development” through a “campaign of insinuations, baseless allegations and puerile attacks” on him.
Rajan also said that his work on containing inflation, cleaning bank books was not over and he is confident that his successor will take RBI to new heights.
“I would hope that the government would very respectfully request him to continue for one term or my preference would be two terms,” the Infosys founder told ET Now.
Inflation in the vegetable basket more than doubled to 10.77 per cent in May as compared to 4.82 per cent in the previous month.
Raghuram Rajan’s colleague and co-author Luigi Zingales defended him saying he was being attacked for “fighting the inefficiency of the banking system”.
It is high time for all of us to get real, recognise and reward Raghuram Rajan for a job brilliantly done
Raghuram Rajan had dismissed Swamy’s earlier comments as “baseless” and “fundamentally wrong”
Reserve Bank of India (RBI) Governor, Raghuram Rajan on Thursday said that emerging market (EM) economies are increasingly nervous because they fear that with fast changing technology, industrial countries may not need to outsource the production to cheaper developing countries and it would lead to huge job losses. “Increasingly, the debate is moving to emerging […]
Rathore also hailed Raghuram Rajan’s decision not to cut repo rate saying “it’s a good decision”.
The survey predicted annual consumer price inflation nudged up to 5.52 per cent in May from April’s 5.39 per cent.
Welcome genuine criticism of our policy but will not address ad hominem attacks, says RBI Governor.
Private investments need to be back on track to make a much more stronger growth, said Rajan.