The former RBI governor, Raghuram Rajan has always been a favourite of the left-liberal cabal and now things seem to be materialising in an expected manner. Earlier this month, it was reported that Raghuram Rajan had authored a report on the state of employment in India. What is important to mention here is that the said report has been included as a part of the Congress’ vision document ahead of the Lok Sabha polls to be held this year. As per the reports, it remains unclear if Rajan will make an entry into politics through the grand old party, but it is apparent that his report will in all likelihood form a central part of the Congress’ manifesto. However, this does not come as much of a surprise. The former RBI governor is known to have frequent disagreements with the centre on a number of issues. Rajan had also criticised the government during demonetisation. On the other hand, Rajan’s critics have targeted him for his silence during the tenure of the UPA government. He refrained from criticising the disastrous policies of the UPA government even as the country went through a phase of policy paralysis. Given Rajan’s silence during the days of the UPA government, one would argue that he has been rather harsh when it comes to commenting upon the policies of the Modi government.
The fact that his detailed report formed a central part of the Congress vision document must be enough to bolster the notion that Rajan has not been a dispassionate commentator of policies. However, the former RBI governor has gone a step further. In a recent interview with the Economic Times, Raghuram Rajan went on to say that the big issues that the country faces ahead of the upcoming elections are jobs, intolerance towards minorities and the way institutions of the country such as the Supreme Court, the Election Commission, and the RBI are to be protected.
Raghuram Rajan seems to be only reiterating the grand alliance propaganda that has been centered around three unsubstantiated claims such as joblessness, weakening of democratic institutions and intolerance. By emphasising on this rhetoric, the former RBI governor seems to be making an election pitch just like any other Congress spokesperson. It must be kept in mind that the issues, which Rajan claims to be big and major, being faced by the country, have been able to garner little attention among the electorate. These superficial issues have been created by the opposition and the Congress through a web of lies and by blowing things out of proportion.
Rajan’s claim that weakening of institutions will be an issue during the elections is rather ironical given that it comes from a former RBI governor who has now authored a detailed report which forms a central part of the manifesto of a political party. This is suggestive of the fact that how much ‘autonomy’ RBI would have enjoyed under the UPA government with Rajan heading the central bank. Rajan’s tenure had ended in September 2016 and therefore in a little more than two years, his work became a central part of the Congress manifesto.
Amid speculations of entering into active politics, he has denied any such plan. He reportedly told News18 that his interest lies only in technocracy and academia. Denying speculations that he is going to join the anti-BJP grand alliance, Rajan said, “It is all speculation. What a number of us have been trying to do is put ideas into the system. Some of them are well-worn ideas, but, we really need to think about how we can take our country forward. We are reaching a point where the old pace of growth is not enough. We need a reinvigoration of growth. And what are the reforms that we need to do, the second or third set of reforms, to put this country on the growth path… that’s something we need to think about very carefully.” Notwithstanding the fact that he has been vocal in denying speculations of any plans to join the Mahagathbandhan, the way Raghuram Rajan has been reiterating the line taken by the potential constituents of such alliance, creates doubt about his real intention. Raghuram Rajan should clear his stand whether to enter active politics or if he just wants to keep beating around the bush. There is no use of misleading the entire nation if he has made up his mind already.