http://www.firstpost.com/business/lessons-from-raghuram-rajans-exit-stop-painting-rbi-governor-as-superman-2843184.html
From @TheJaggi
Swamy made it difficult for the government to act either way: ask Rajan to go or stay. Rajan made the decision easier for the government, and for this, Arun Jaitley owes him one.
"Outspokenness is usually not appreciated in central bank governors beyond the ambit of money policy. Perhaps this is one lesson all governors can learn. Rajan faced flak because he seemed to be playing to a world gallery, when the government was over-sensitive to domestic and international criticism after Modi came to power. Given the English media’s ambivalence — if not outright hostility — to the Modi government, Rajan unnecessarily gave the impression that he was not a fan of the government. The media’s decision to paint him as Superman did not help matters.
We lost a good governor in the process."
So True.
Prof R Vaidyanathan, author of India Un-Inc is the best bet for RBI Governor. But then, Urijit Patel is Rajan's Deputy & has been with RBI for quite some time.
Having seen Modi Administration's appointment pattern, they don't seem to bother much about Instituitions.... they pick the first name from the Sack, So Mr Patel could head Mint Street.
Dr Rajan, while you were there, your serene words gave all English Newspaper & Blog Readers some hope. Your words & deeds did cockle our hearts & not to ignore, You were truly a Rock-Star, even if it hadn't come from Shobhaa Dey's column.
I also think in other angles.
- Was the publicity Dr Rajan was getting, a bit unsettling for administration?
- Was Dr Rajan's task of cleaning Balance Sheets of PSU Banks threatening big business?
- Was Professor Rajan's tendency to lecture bore the treasury benches?
While truth rarely comes out in full, these could have played non-zero role.
Any way,
Go Sir, There's whole mass of students you need to educate. Plz put your lectures on MOOC's. Some day, they'll be alike Feymann Lectures on Physics.
