Aam Aadmi Party may nominate Raghuram Rajan to Rajya Sabha: Reports

The Aam Aadmi Party (AAP) has reportedly decided to nominate former Reserve Bank of India (RBI) governor Raghuram Rajan to the Rajya Sabha. His name is being considered for one of the three Rajya Sabha seats from Delhi, which will fall vacant in January 2018.

According to reports, Rajan’s name was discussed in a meeting of top AAP leaders, including Delhi Chief Minister Arvind Kejriwal. A letter in this regard has also been sent to Rajan.

However, the former RBI governor has reportedly not responded to the letter from AAP leadership.

Reports further said that the party is considering the names of people other than politicians for the three Rajya Sabha openings.

Rajan, who currently teaches at the University of Chicago, was not chosen for a second term as RBI governor by the Narendra Modi government despite him expressing his interest for the same.

The former RBI chief’s name was also considered for Nobel Prize in Economics this year. However, the award went to American economist Richard Thaler.

Rajan is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago.

His three-year term as RBI governor ended on September 4, 2016.

Exactly one year after his term as RBI governor came to an end, Rajan published a book with his "commentary and speeches" to convey what it was like to be at the helm of the central bank in "those turbulent but exciting times".

Rajan, who was considered a vocal RBI Governor, in his book "I Do What I Do" said The demonetisation tool used by the Indian government to drive out black money could have long-term benefits but its short-term economic costs would outweigh them.

This move by the Aam Aadmi Party is expected to spark some infighting, as Kumar Vishwas, who had contested 2014 Lok Sabha elections against Congress vice president Rahul Gandhi and Bharatiya Janata Party (BJP) leader Smriti Irani from Amethi, had already expressed his interest in the Rajya Sabha seat.

(With agency inputs)