Rajan unfit to be RBI Guv, should be removed: Subramanian Swamy

May 12, 2016

New Delhi, May 12: BJP leader Subramanian Swamy today suggested that Reserve Bank Governor Raghuram Rajan be removed from the post as he was responsible for "unemployment and collapse" of industrial activity.swamyrajan

"In my opinion, RBI Governor is not appropriate for the country. I don't want to speak much about him. He has hiked interest rates in the garb of controlling inflation that has damaged the country," he told reporters in Parliament House.

The Governor's actions have "led to collapse of industry and rise of unemployment in the economy", he said. "The sooner he is sent back to Chicago, the better it would be."

Rajan is the on-leave Professor of Finance at the University of Chicago's Booth School of Business.

After assuming charge as RBI governor in September 2013, Rajan gradually raised the short-term lending rate from 7.25 per cent to 8 per cent and had retained the high rates throughout 2014.

He kept the rates high, citing inflationary concerns despite intense pressure from the Finance Ministry and the industry for softening them with a view to boosting growth.

The Governor began the process of lowering the rates in January 2015 and since then it has come down by 1.50 per cent to 6.50 per cent.

Comments

mohammed
 - 
Thursday, 12 May 2016

Subramanya is mentally unstable. BJP will be going to appoint ramdev baba as RBI governor.

Sherief Bajpe
 - 
Thursday, 12 May 2016

This is the retaliation for \In the land of the blind, the one eyed man is king\". RBI Governor Rajan's efforts to control inflation have worked well. Narrow minded Swamy will react like this."

Rikaz
 - 
Thursday, 12 May 2016

insane person...RBI Governor is doing fine...BJP wants to divert minds of people....

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 25,2020

Bengaluru, Feb 25: In the view of 2nd PUC exams from March 4, the Bangalore Metropolitan Transport Corporation (BMTC) has approved free travel for students from home to exam centre on Monday.

"BMTC has extended free travel facility to all PUC students from their residence to examination centre on production of exam hall/admission ticket," said a press note.

BMTC has been issuing student concessional passes to travel from their residence to college at concessional rates for the benefit of students. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 23,2020

Bengaluru, Mar 23: Deputy Chief Minister Laxman Savadi cautioned private bus transport services operators, taxis and autorickshaws from exploiting commuters in wake of bus and train services being suspended by the government as precautionary measures to prevent the spread of COVID-19.

In a statement released here on Monday, Transport Minister Savadi said it has come to the notice that private buses, taxis and autorickshaws were misusing the opportunity and exploiting commuters. Inter-district bus services have been suspended in the districts wherein lockdown has been announced to protect the health of people and none should violate the decision of the government, he stated.

Transport and Police Department officials have been asked to taken action against those violating norms and exploiting commuters. Service providers for their profit cannot risk with the health of the people and repeated cases if come to the fore, they will not be spared, Savadi cautioned.

Government has taken measures to prevent spread of COVID-19. Private transport service providers and people should join hands and cooperate to contain it, he appealed. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 20,2020

Thiruvananthapuram, Mar 20: One more person tested positive for coronavirus on Thursday, taking the total number of cases to 25, as the Left government announced a Rs 20,000 crore financial package to tide over the present crisis being faced by the southern state in the wake of the virus outbreak.

The multi-crore special package includes Rs 500 crore health package, Rs 2,000 crore loans and free ration.

The man who tested positive had returned from Dubai and hailed from the northern Kasaragod district, Chief Minister Pinarayi Vijayan told reporters after a COVID-19 review meeting.

He said 65 people were hospitalised on Thursday.

"At least 31,173 people are under surveillance, of whom 237 are in observation in hospitals across the state" he said.

Detailing the financial package, Vijayan said loans worth Rs 2,000 crore would be made available to needy families through all-women network 'Kudumbashree' during April-May.

Rural employment guarantee programmes worth Rs 1,000 crore each will be implemented in April-May, he said.

Social security pension of Rs 1,320 crore, to be given in April, would be distributed this month, he said, adding that 50 lakh people are benefited through the pension scheme.

Those belonging to the below poverty line (BPL) and Anthyodaya, who are not receiving social security pension, would be given Rs 1,000 each, for which Rs 100 crore would be earmarked.

Cutting across APL and BPL families, 10 kg free ration would be given and Rs 100 crore would be set apart for the purpose, he said.

A string of 1,000 low-cost hotels, providing food at Rs 20, would be opened across the state next month, the chief minister added.

The 'fitness' charges of autorickshaws and taxis and one month tax of stage and contract carriages would be waived, Vijayan said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.