Rediff.com« Back to articlePrint this article

Rajan, Subramanian 'foisted' on India by Americans: Swamy

August 25, 2016 13:50 IST

While Subramanian Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth, he has targeted Arvind Subramanian for his stand on Intellectual Property Rights (IPR).

BJP MP Subramanian Swamy on Thursday continued with jibes at RBI Governor Raghuram Rajan and Chief Economic Adviser Arvind Subramanian, calling them "micro minded" management degree holders "foisted" by America.

While Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth, he has targeted CEA for his 2013 stand on Intellectual Property Rights (IPR) wherein he had recommended to US government to act against India through WTO over its pharmaceutical IPR regulations.

"The Americans foisted on us management degree holders like R3 and AS. Management types are micro minded while economy is general equilibrium," Swamy tweeted on Thursday.

R3 is the acronym he uses to refer to Rajan and AS for Arvind Subramanian.

Faced with attacks, Rajan called them ad hominem. In June he announced he won't seek a second term after completing three-year term on September 4. Government has named RBI Deputy Governor Urjit Patel as his successor.

Finance Minister Arun Jaitley has defended chief economic advisor saying his advice to the government from time to time has been of great value. 

© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.