1. Subramanian Swamy’s third tirade against Raghuram Rajan, says RBI governor’s policies are anti-farm

Subramanian Swamy’s third tirade against Raghuram Rajan, says RBI governor’s policies are anti-farm

Subramanian Swamy said RBI Governor's policies have finished small industries and are anti-agriculture.

By: | Published: May 27, 2016 6:16 PM
"The banking policies are anti-agriculture. I have given six-point chargesheet and included them in that," he said. “The banking policies are anti-agriculture. I have given six-point chargesheet and included them in that,” he said.

Continuing his tirade against Raghuram Rajan, BJP MP Subramanian Swamy today said RBI Governor’s policies have finished small industries and are anti-agriculture.

“I have made comments on the basis of his (Rajan’s) wrong policies. He has finished the small and medium industries to help American multi-national corporations to come here and take over,” Swamy said on the sidelines of an event organised by Bhartiya Kisan Abhiyan here.

“The banking policies are anti-agriculture. I have given six-point chargesheet and included them in that,” he said.

In a letter to Prime Minister Narendra Modi yesterday, Swamy asked him to sack Rajan, charging that his insistence on high interest rate had led to recession in the domestic small and medium industries causing not only sharp decline in output but also massive unemployment of semi-skilled labour.

Recalling how the crisis in Japan and East Asia led to strong dominance of the US in the region, Swamy had said: “This seems now also the modus operandi of Dr Rajan in his strangulating the small and medium industries by untenable high interest rates”.

Referring to Modi’s interview to Wall Street Journal, Swamy said: “Today Prime Minister has also said that what is the media interest in Raghuram Rajan’s appointment.”

Following up on his barbs against Rajan, Swamy had also alleged that the former IMF Chief Economist should have known the “inevitable consequence of rising and high interest rate and his policy was wilful and thus anti-national in intent”.

Rajan’s tenure is scheduled to end in early September.

  1. L
    Landscape
    May 27, 2016 at 5:20 pm
    It is a good question to ask what does Subramaniam Swamy knows about practical financial management? he could be a teacher, that doesn't enle to comment about someone who is proven and time tested. Subramaniam swamy is echoing some corporates who are in deep down debts with banks, and the reform Raghu is bringing in is going to tear of the masked faces of many companies in India and banks. What Raghu is trying to do is not done, these Corporates will eat all the public money and still sell cheap products to us only.
    Reply
    1. V
      VIVEK
      May 27, 2016 at 2:08 pm
      I think SS is targetting RRR as if he alone is anti agriculture. In fact after hiji's demise the Indian govt. has been constatntly anti agriculture.And mind you, all people who are anti agriculture are antI national. Today those who are backing RRR like Uday Kotak/ AJ/ India Inc. are basically living in India and those opposing him are living in Bharat. Come voting time, people from Bharat vote with both their feets. The fight continues.
      Reply

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