Rajan's colleague in the ministry, Economic Affairs Secretary Arvind Mayaram, also expressed hope on Thursday that the central bank would vote for growth.
The RBI kept its key policy repo rate unchanged at 8.0 percent in its recent monetary policy.
Rajan is an acknowledged academic, author and intellectual. He spoke on issues which are in the public domain, said Chidambaram
Although this may not be music to Raghuram Rajan and Viral Acharya's ears, the real reason in my estimation for their quitting is expatriate over-sensitivity, intolerance or arrogance, argues B S Raghavan, the distinguished civil servant.
His team has projected a higher growth of 6.1-6.7 per cent in the next fiscal.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
RBI chief Raghuram Rajan said Asia's third-largest economy is being hampered by a drop in public and private investments.
RBI Governor Raghuram Rajan's decision to not seek a second term is a "personal one" which everybody should respect, Chanda Kochhar MD & CEO, ICICI Bank said.
Former President A P J Abdul Kalam felicitated the six winners.
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
The rupee on Monday ended lower by 23 paise to close at an over two-week low of 67.31 against the US currency.
Former Finance Minister P Chidambaram had said he was "disappointed and profoundly saddened" by Rajan's decision.
The committee had eminent people on it and making any allegations like this is 'outlandish', Sitharaman said.
The mid-year analysis lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
The RBI targets inflation at 6 percent by January 2016 and 4 percent for 2017/18.
Finance Minister expects rate cut by RBI.
The core inflation is down and there is a need to push growth.
Rajan has a great track record abroad.
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
Arun Jaitley had proposed to set up a Public Debt and Management Agency.
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
India's consumer price inflation dropped to 5.4 per cent in June
'When a soldier becomes a king, he better be a king. He should now just forget the past and move beyond continuity. He should catch the potential of India's moment and play a leader's role,' says Vallabh Bhansali of Enam Group.
Rajan encouraged the Indian-American business community to get involved in the 'nitty gritty of the implementation process,' saying such involvement was not difficult especially since the Indian government has the political will to reform.
The policy will be presented in the backdrop of rising inflation.
At Vigyan Bhavan, Prime Minister Manmohan Singh sat with silent stillness as a key economic advisor and the head of India's central bank discussed the legacy of his reforms - a legacy that speakers said was under threat because of complacency.
Jaitley was reacting to a question by CNBC TV18 on Rajan's remarks last week.
For 2015-16, IMF pegged India's growth rate at 7.5 per cent.
'The three tycoons I deal with in the first chapter -- Ambani, Mallya and Adani -- in their own way represent the change that has come over India.' 'Of the three of them, Mallya is the most fun. He was terrific.' 'And I don't say that because I tell the story in the book of his golden toilet.'
The bonds will likely be simultaneously launched in major financial centres such as London, Singapore, Hong Kong, New York for a term of no less than 20 years.
'I am sure Dr Patra will get the fullest cooperation from the finance minister who needs workhorses, not prima donnas constantly looking to improve their CVs,' says T C A Srinivasa-Raghavan.
The key short-term lending rate (repo rate)has been hiked by 0.25 pc to 7.50 pc.
"We did not abuse RBI governors," says Chidambaram.
Rajan posed the question while speaking at the annual leadership conference in Mumbai National Association of Software and Services Companies.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
He will be the first bureaucrat to head the central bank in almost five years.
