Rajan, Subramanian ‘foisted’ on India by US, says Swamy

New Delhi, August 25

The BJP Member of Parliament, Subramanian Swamy, today continued with jibes at RBI Governor Raghuram Rajan and Chief Economic Adviser Arvind Subramanian, calling them “micro minded” management degree holders “foisted” by America.

While Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth, he has targeted CEA for his 2013 stand on Intellectual Property Rights (IPR) wherein he had recommended to 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 today.

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

Faced with attacks, Rajan called them ad hominem. In June he announced he won’t seek a second term after completing three-year term on September 4. Government has named RBI Deputy Governor Urjit Patel as his successor.

Finance Minister Arun Jaitley has defended Chief Economic Adviser saying his advice to the government from time to time has been of great value. — PTI