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Raghuram Rajan and Arvind Subramanian 'foisted' on India by Americans: Subramanian Swamy

India TV Politics Desk New Delhi 25 Aug 2016, 16:24:33 PM IST
India TV Politics Desk

Senior BJP leader and Rajya Sabha MP Subramanian Swamy once again targeted Reserve Bank of India (RBI) Governor Raghuram Rajan and Chief Economic Adviser Arvind Subramanian today and said that both of them were “foisted” on India by Americans.

Swamy, in a tweet, said that management-degree holders like Rajan and Arvind are micro-minded while economy is general equilibrium.

Earlier, the BJP MP had written to PM Modi asking him not to grant second term to RBI Governor Raghuram Rajan. He had accused Rajan of deliberately refusing to lower interest rates which was required to boost economic growth.

Swamy  had attacked CEA Arvind Subramanian for his 2013 stand on Intellectual Property Rights (IPR) wherein he had recommended the US government to act against India through WTO over its pharmaceutical IPR regulations.

 “The Americans foisted on us management degree holders like R3 and AS. Management types are micro-minded while economy is general equilibrium,” Swamy tweeted on Thursday.

R3 is the acronym he uses to refer to Raghuram Rajan and AS as initials for Arvind Subramanian.

Rajan instead called such jibes ad hominem. In June, he announced he won’t seek a second term after completing a three-year term on September 4. The government has named RBI deputy governor Urjit Patel as his successor.

Finance minister Arun Jaitley had defended the Chief Economic Adviser, saying his advice to the government from time to time has been of great value.

(With PTI inputs)