This refers to the brain stormer, “Rexit — OOF! So heartbreaking!” (June 20). Strange are the ways of the Modi Government. It picks up a former cricketer, who is not even remotely connected to the world of fashion, to head the National Institute of Fashion Technology and is ready to drop the Reserve Bank of India Governor, a globally acclaimed economist.
Union Finance Minister Arun Jaitley’s statement that it was Rajan who wanted to go back to academics at the end of his current assignment and that the Government respects his decision, is contradicted by Rajan’s statement that he was open for a second-term but after consultation with the Government, he decided to quit.
Rajan’s policies resulted in reducing inflation from 9.52 per cent to 5.24 per cent, a stable rupee and an all-time high foreign currency reserve. Rajan watched the interest of the country even at the risk of annoying the Government. His departure will be a setback for the investors and country’s economy.