Review outdated laws and frame policies to help equip Indian firms to take advantage of a possible global economic rebound.
RBI Governor Raghuram Rajan called on Finance Minister Arun Jaitley and is believed to have discussed macro-economic situation ahead of the second bi-monthly monetary policy next month.
What should matter for another term for Rajan is not if his policy choices or actions have been good or bad, but that the chosen reform path, endorsed and agreed to by the government, is persisted with.
The Governor said India is fairly safe from volatile global economy and it has posted 7.5 per cent growth despite two droughts and weak international market.
“He is very well respected across the world. He is a very capable person, very well respected person and I think if his term is extended then its a good thing for India,” Godrej told reporters.
Addressing ministers, bankers, bureaucrats and other stakeholders at the 4th Odisha Knowledge Hub, the RBI chief said Indian economy is in the midst of recovery but some areas are still under stress.
Congress spokesperson Manish Tewari wondered whether the real target of Swamy’s attack on the RBI governor was Finance Minister Arun Jaitley.
It is not that everything that Rajan has done is blemishless. The judgement of many of his moves, we will have to make a few years down the line.
The Congress on Wednesday alleged that Prime Minister Narendra Modi had unleashed a ploy to sideline the Finance Minister and was using Raghuram Rajan as just a ruse.
Raghuram Rajan is a very competent man, and he has performed exceedingly well says Senior Congress leader Digvijaya Singh.
Subramanian Swamy, in his letter to PM Modi, said: Raghuram Rajan is in this country on a Green Card and “therefore mentally not fully Indian.”
WPI inflation turns positive after 17 months. Why that’s reason to worry.
Arun Jaitley parried a question on Subramanian Swamy’s demand for immediate sacking of RBI Governor Raghuram Rajan saying the Government and RBI are responsible institutions and decisions will be taken without being influenced by “any other factor.”
To a question whether Rajan is getting an extension, he quipped “these are not issues which we discuss through the media.”
“One of the things that we have been working hard on is creating a predictable tax structure. But every time we talk about taxes, we get Vodafone sort of flung-back at us,” said Raghuram Rajan.