Sack 'mentally non-Indian' Raghuram Rajan as RBI Governor: Subramanian Swamy urges PM Modi

Subramanian Swamy had said that Rajan should be removed as RBI Governor since he was responsible for the "rise in unemployment and collapse of industry".

New Delhi: Firebrand BJP leader and Rajya Sabha MP Subramanian Swamy has written a letter to Prime Minister Narendra Modi urging him to immediately remove the incumbent Reserve Bank of India Governor Raghuram Rajan.

News agency ANI claimed on Tuesday that BJP's Rajya Sabha MP Swamay had sought urgent termination of Raghuram Rajan's services as the RBI Governor.

In his letter to the PM, dated yesterday, Swamy has accused Dr Rajan of an "apparently deliberate attempt to wreck the Indian economy," and contends that the RBI Governor is "mentally not fully Indian," since he continues to renew the Green Card issued to him by the US government.

Alleging that Dr Rajan's actions have hurt the economy, Swamy cites what he calls the "disatrous" concept of containing inflation by raising interest rates.

The BJP MP alleged that Dr Rajan's decisions have squeezed small and medium business and increased unemployment in the country.

Swamy also pointed out that it was the previous Congress led UPA government that appointed Dr Rajan, in his letter to PM Modi.

Swamy had on May 12 said that Rajan should be removed as RBI Governor since he was responsible for the "rise in unemployment and collapse of industry".

However, the RBI Governor has not yet responded to the multiple attacks by Swamy, who had hit out at him last year too.

Swamy, while speaking at a function on Monday, said that time had come to think of major economic reforms in India for the sake of the country's economy.

"It is about time we think of major economic reforms to set our house in order," Swamy said this while delivering a lecture on 'India in global economy', organised by city-based NGO Delhi Study Group here.

Swamy also blamed Raghuram Rajan for non-availability of cheaper capital in the country.